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Nov 07 - 05:55 PM

AUD/USD - On The Defensive As RBA Rate Expectations Reassessed

By Krishna K  —  Nov 07 - 05:00 PM
  • AUD/USD opens on a cautious note after sliding 1.3% to 0.6405 low on Tuesday

  • Undermined by dovish RBA hike & perception that c.bank is done raising rates

  • RBA sounding non-committal on whether further tightening required weighs

  • Downside likely limited as other major central banks also remain on hold

  • Drop in U.S. yields cushion AUD fall; 10-yr yield down 9 bps Tuesday

  • Powell's speech Wed & Thu, RBA SOMP Fri awaited for more clues on policy

  • Support 0.6395-0.6405, 0.6365-70, resistance 0.6450, 0.6480, 0.6495-0.6500

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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