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May 04 - 06:55 AM

AUD/USD - Holds Above 0.71 Ahead Of Fed Event Risk

By Rob Howard  —  May 04 - 04:35 AM
  • AUD/USD has traded a 22 pip range since 0500 GMT; 0.7100-0.7122

  • 0.7089 was Asian session low, before Aussie retail sales beat lifted AUD

  • See: nL2N2WW02N. Goldman sees 50 bps RBA hikes in June/July nL2N2WW0AY

  • 0.7148 was Tuesday's high, after larger than expected RBA hike nL2N2WV05D

  • Fed rate decision at 1800 GMT; 50 bps hike expected nL2N2WV11U

  • Ultra-hawkish Fed might depress AUD/USD towards 0.70 (0.7031 = Monday's low)

AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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