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May 23 - 07:55 PM

AUD/USD - US Inflation Concerns, Lower Commodities Weigh

By Krishna K  —  May 23 - 06:40 PM
  • AUD/USD on the defensive in Asia after closing 0.25% lower on Thursday

  • Weighed down by robust U.S. economic data, waning Fed rate cut bets

  • Undermined by higher U.S. yields; 2-yr up 5 bps to roughly 3-week peak

  • Lower commodity prices diminish AUD allure; copper, iron-ore, gold slide

  • Downside limited as higher-for-longer RBA equally cautious on rates

  • Support 0.6580, resistance 0.6630-35, 0.6645-50; Thu range 0.6653-0.6598

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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