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Jun 04 - 01:55 AM

AUD/USD - Rally Pauses As Mixed AU Data Deters Buyers

By Krishna K  —  Jun 03 - 11:40 PM
  • AUD/USD down 0.1% in Asia as mixed Australian economic data dampens mood

  • Eases from 0.6698 day high to 0.6675 before stabilizing

  • Australia Q1 current account swings to deficit , muddies GDP math

  • Net exports impact on Q1 GDP -0.9 percentage points; was expected at -0.6

  • But government spending and a rise in business inventories offset

  • Unlikely to change expectations for a +0.2% rise in Q1 GDP; data due Wed

  • Higher-for-longer RBA, rising Sep Fed rate cut bets limit AUD downside

  • Support 0.6670-75, 0.6650-55, resistance 0.6695-0.6700, 0.6715

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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