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May 13 - 10:55 PM

AUD/USD - RPT-BUZZ-AUD/USD-Drifts Towards Lower End Of Range, Downside Limited

By Krishna K  —  May 13 - 10:15 PM

Repeats for wider audience, adds topic codes

  • AUD/USD down 0.1% in Asia but holds within 0.6580-0.6630 range

  • Weak JPY and caution ahead of latest U.S. inflation data weigh

  • Traders also await Australian government's annual budget due later Tue

  • Budget will prioritise efforts to fight stubbornly high inflation- Treasurer

  • AUD supported as RBA rate expectations diverge from those of other c.banks

  • Markets pricing in around a 15% chance next RBA move in rates will be up

  • Easing chances this year seen as negligible; cuts seen from Fed, ECB, BOE

  • Higher metal prices provide underlying AUD support; Asia range 0.6612-0.6599

  • Support 0.6585-90, 0.6560 resistance 0.6625-30, 0.6645-50, 0.6667-77

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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