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Dec 08 - 05:55 PM

AUD/USD - Weak Into RBA Rate Meeting; Geopolitics Weigh

By Krishna K  —  Dec 08 - 05:00 PM
  • AUD/USD offered in early Asia after closing 0.95^ lower on Friday

  • Undermined by shifting RBA rate expectations; odds of an early rate cut rise

  • RBA expected to hold rates at 4.35% Tue but may soften hawkish stance

  • Feb rate cut chances climb to 55%, April easing completely priced in

  • Fallout out from developments in Syria and S.Korea weigh on Aussie

  • Lower U.S. yields on Fed Dec rate cut expectations limit downside

  • U.S. and China inflation data, China CEWC meeting also key this week

  • Major support base at 0.6340-0.6360, loss opens ratchet to 0.6271, 2023 low

  • Resistance 0.6420-25, 0.6440-0.6450; Fri range 0.6373-0.6455

  • For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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