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Jun 03 - 08:55 PM

AUD/USD - Rallies As September Fed Rate Cut Bets Revive

By Krishna K  —  Jun 03 - 07:35 PM
  • AUD/USD eyes test of resistance at 0.6700-15 after closing 0.4% higher Mon

  • Boosted by rising expectations of a Sep Fed rate cut as US economy slows

  • US factory activity, construction spending both fall , drag yields lower

  • US yields fall to 2-week lows; 10-year yield slides 12 bps, 2-yr down 8bps

  • May non-farm payrolls data Friday crucial for Fed rate expectations

  • Higher-for-longer RBA rate expectations will continue to support AUD

  • AU Q1 business inventories, company profits, current account balance due Tue

  • Net exports contribution to GDP also due; Mon range 0.6633-0.6695

  • Break of 0.6715 opens 0.6730, 0.6750; support 0.6670-75, 0.6650-55

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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