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May 25 - 03:55 AM

AUD/USD - Led Higher By Kiwi But Rally A Struggle

By Krishna K  —  May 25 - 02:00 AM
  • AUD/USD flat in Asia after recovering from an early drop to 0.7084

  • Supported by a 0.6% NZD rally as RBNZ more hawkish than expectednL2N2XH03U

  • Underpinned by stronger Asia risk appetite; S&P E-Mini +0.5%, ASX 200 +0.6%

  • Upside capped by caution ahead of release of FOMC May meeting minutes Wed

  • Dip buyers limit downside as cracks start to emerge in the bullish USD story

  • Slowing economy, drop in inflation expectations undermine USD nL3N2XH0D8

  • Resistance 0.7125-35, 0.7160-65, support 0.7080-85, 0.7055-60

  • For more click on FXBUZ


Philly Fed: Click here

ICE inflation expectations index : Click here

Source:
Refinitiv IFR Research/Market Commentary

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