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May 02 - 07:55 AM

AUD/USD - Buoyed By RBA's Unexpected Rate Rise

By Rob Howard  —  May 02 - 05:40 AM
  • AUD/USD consolidates gains spurred by RBA's unexpected 25-bps rate hike

  • See: nL1N36Z09P. 0.6717 was high at 0658 GMT; 0.6688 = subsequent low

  • 0.6717 was highest level since April 21 (0.6573 was Friday's seven-week low)

  • AUD/USD was at 0.6628 into the RBA rate decision at 0430 GMT nL4N36Z180

  • Fed rate decision on Wednesday; 25 bps increase to 5.00-5.25% expected

  • White House considers two key nominations at the Fed - NYT nL1N36Y20M

Source:
Refinitiv IFR Research/Market Commentary

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