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May 18 - 03:48 AM

AUD/USD - Powell's Optimism Tempered By Second Wave Concerns

By John Noonan  —  May 17 - 08:35 PM
  • AUD/USD underpinned by rise in S&P futures (+0.80%) after Powell interview nL1N2CZ09O

  • He said recovery could happen "fairly soon" and Fed still had ammunition

  • Powell stressed that a 'second wave' of infections was the biggest risk

  • Fed chair said 'medical metrics' was most important data for Fed now

  • Comments were cautious, but equity markets appear to be 'glass half-full'

  • AUD may get support from AFR report saying China conciliatory on Aus-China trade [ Click here ]

  • Concerns China-Australia tensions were escalating weighed on AUD last week

  • Key AUD/USD support at 0.6370/80 looks safe for the time-being










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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