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Jan 30 - 10:55 PM

AUD/USD - Lower After Softer CPI, As US Markets Head South

By Andrew M Spencer  —  Jan 30 - 10:05 PM
  • Off 0.6%, hit by softer-than-expected CPI data and broad US-led risk off

  • CPI 3.4% y/y against a poll at 3.7% - trimmed mean +0.8% q/q poll +0.9%

  • RBAWATCH priced a September 28pt cut pre CPI - 28bp now priced in August

  • RBA meeting Tuesday - rates on hold, end to the hawkish bias, data-driven

  • Risk off - Nasdaq E-mini -0.9% on Alphabet/Microsoft results, 10yr UST -3bp

  • Charts; 5, 10 & 21 DMAs conflict as 21-day Bollinger bands contract

  • Daily momentum studies show no bias - overall a neutral setup

  • 0.6631 21-DMA and 0.6657 38.2% Dec-Jan fall are the first resistance

  • The 0.6559 Sydney low and 0.6525 2024 base are initial supports

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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