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Thomson Reuters
May 16 - 05:00 AM
AUD/USD - No Respite As Europe Walks In, Pressure Firmly Down
First appeared on eFXplus on May 16 - 02:45 AM
  • AUD/USD remains under pressure, Europe reacts to lacklustre employment data
  • Jobless rate rises, full time work decreases, Aug rate cut fully priced in
  • Futures show 90% probability of 0.25% cut in July, 50-50 chance of June move
  • AU 3Y yield drops to record low of 1.17%, cut to 1% by Dec not ruled out
  • RBA may want to see more evidence of labor mkt weakness, Q1 GDP, Q2 CPI-Citi
  • Ratchet towards 0.6852, 76.4% of Jan rally to continue; resistance 0.6940-45

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Thomson Reuters IFR Research/Market Commentary


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