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TDUX
Aug 30 - 07:55 PM

AUD/USD - Under Pressure As Fed Flags Inflation Concern

By James Connell  —  Aug 30 - 05:55 PM

• AUD/USD -0.7% from Fri 0.7208 high in aftermath of Fed Chair Warsh speech

• Warsh asserts retention of 2% inflation target, says more work to be done

• Broad USD index & UST yields higher on firming Fed rate hike bets

• AUD fails to consolidate break above 0.7200, reforms resistance 0.7210

• Futures imply 56.1% probability of Sep RBA hike, will lend AUD support

• AUD Q2 current account due Tue, Q2 real GDP due Wed (poll +0.3% q/q)

• Range early Asia 0.71515-62 support 0.6920 0.6866, resistance 0.7210 0.7282
AUD Hourly Bollinger Study & DXY Daily 55-DMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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