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Jun 06 - 07:55 PM

AUD/USD - Holds Its Range, Awaits Key Risk Events

By Krishna K  —  Jun 06 - 06:45 PM
  • AUD/USD entrenched in a 0.6630-0.6680 band within larger 0.6580-0.6700 range

  • Supported by lower U.S. yields as Fed rate cut expectations strengthen

  • Signs of an ebbing in U.S. labor market tightness weighs on USD

  • Higher-for-longer RBA rate stance diverges from other c.banks, underpins AUD

  • Friday U.S. employment report for May key for Fed rate expectations

  • China trade data, fireside Chat by Andrew Hauser, RBA Dep.Governor also due

  • Traders look ahead to Wednesday's U.S. CPI and Fed rate decision

  • Support 0.6630-35, 0.6600-05, resistance 0.6680-85, 0.6700-10

  • Thursday range 0.6683-0.6634

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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