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Aug 03 - 07:55 PM

AUD/USD - Steady Start, Awaits RBA's SOMP For Rate Clues

By Krishna K  —  Aug 03 - 06:40 PM
  • AUD/USD consolidates in early Asia after closing 0.2% higher on Thursday

  • Recovers from a 0.6514 low in NYK on perception decline over-extended

  • Pair down 3.35% from Mon 0.6740 high as RBA seen as done on hiking cycle

  • Risk aversion, higher U.S. yields, China economic concerns also undermined

  • RBA Statement of Monetary Policy awaited Fri for guidance on interest rates

  • U.S. July NFP & average hourly earnings key for markets; U.S. CPI next week

  • Support 0.6500-10, 0.6480-85, 0.6460, resistance 0.6570-75, 0.6595-0.6600

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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