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Oct 06 - 10:55 PM

AUD/USD - RBA Stability Report Warns Of Financial Risks And Household Stress

By John Noonan  —  Oct 06 - 08:50 PM
  • RBA Financial Stability Review warned of increasing financial stress nS9N2ZT01B

  • The AUD/USD hasn't reacted to the review and remains around 0.6410/15

  • The RBA warnings partly explain their decision to hike 25 BPs instead of 50

  • Market is focussed on external factors in determining AUD/USD direction

  • Price action today will be driven by positioning for the US jobs data

  • A strong US payroll report will likely send USD higher and risk assets lower

  • AUD would be especially vulnerable if the US payroll numbers are strong

  • Support is at the trend low at 0.6363 and yesterday's 0.6390 low

  • Resistance is at the 21-day MA at 0.6596 with sellers ahead of 0.6550

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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