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May 10 - 01:55 AM

AUD/USD - Eases As Focus Turns To China, US Inflation Data

By Krishna K  —  May 10 - 12:00 AM
  • AUD/USD drops 0.25% in Asia as traders book profits after its 0.6% Thu rally

  • Small rise to 0.6623 after 0.6616 open met by sellers as JPY, CNH weakened

  • China inflation data Sat, US inflation data next week lead to caution

  • Downside limited; RBA rate expectations diverge from those of other c.banks

  • Fed, ECB, BOE rate cuts being priced in but RBA rate hike chances at 27%

  • Support 0.6595-0.6600, 0.6575-80, resistance 0.6625-30, 0.6645-50

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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