By Krishna K — Sep 12 - 11:35 PM
AUD/USD bid in Asia but fails to build on gains despite broadly weaker USD
Downside limited on heightened speculation of a large Fed rate cut next week
Reports from FT and WSJ suggest size of Fed cut Wed will be a close call
Probability of 50 bps cut rises to 41% in Asia from 29% on Thu FEDWATCH
Diverging Fed-RBA rate expectations, rally in equities & commodities support
Persistent concerns over China's economy, AUD/JPY sales limit AUD gains
Saturday China activity data key; Asia range 0.67215-0.6733
Resistance 0.6747,61.8% of 0.6824-0.6622 drop; support 0.6695-0.6700, 0.6675
Links - WSJ: Click here ; FT: Click here
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary