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Feb 01 - 11:55 PM

AUD/USD - Rate Rise Unlikely Before 2024 - AUD Eases

By Andrew M Spencer  —  Feb 01 - 10:45 PM
  • Traded +0.5% with resilient risk into the RBA - and +0.2% after

  • Guardedly upbeat outlook, does not expect to hike rates before 2024

  • Extended bond buying program by another A$100 billion nRBA

  • In Dec GDP 5% 2021 and 4% forecast for 2022, now 2021 3.5% and 2020 3.5%

  • Unemployment was 7% and 6% 2022, now 6.6%, 6% in 2021 and 5.5% in 2022

  • WPI inflation was 1.4%, forecast 1% in 2021, 1.5% 2022, now 1.25% and 1.5%

  • Techs; momentum studies head lower, 5, 10 & 21 DMAs slip - negative setup

  • Chart suggests a move towards 0.7502, 38.2% Nov-Jan rise is viable

  • Close above 0.7719 21 daily moving average would end downside bias

For more click on FXBUZ


aud 2 feb 2 Click here

Source:
Refinitiv IFR Research/Market Commentary

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