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Oct 01 - 02:55 AM

AUD/USD - Subdued Despite Positive Domestic Data

By Krishna K  —  Oct 01 - 12:40 AM
  • AUD/USD unchanged despite better-than-expected Australian economic data

  • Australia retail sales +0.7% mth-on-mth vs +0.4% expected in Reuters poll

  • Sept home prices rise modestly; Tue data to reinforce RBA's hawkish stance

  • Chances of 25bps RBA rate cut in Dec fall to 70% from 78% on Monday

  • Powell tempering Fed rate expectations on Monday likely to cap rally

  • AUD increasingly vulnerable as rally stalls despite positive cues

  • Inability to break resistance at 0.6949-62 likely to weigh

  • Support 0.6895-0.6900, 0.6865-70; Asia range 0.6908-0.6934

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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