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Sep 22 - 11:55 PM

AUD/USD - Drifts Higher, Buoyed By China Rate Move

By Krishna K  —  Sep 22 - 10:25 PM
  • AUD/USD +0.1% in Asia as China's c.bank lowers 14-day repo rate by 10 bps

  • Risk sentiment lifted by PBOC move; Nikkei futures up, S&P 500 futures +0.3%

  • Consolidation under 0.6839, 2024 high, likely ahead of RBA rate decision Tue

  • RBA to reiterate hawkish stance as labour market resilient, inflation sticky

  • Diverging RBA-Fed expectations support, concerns over China's economy cap

  • Australia CPI Wednesday and U.S. PCE Price Index Friday key data this week

  • Resistance 0.6839, 2024 high, 0.6871 Dec high; support 0.6780-85, 0.6740-50

  • Asia range 0.67985-0.68205

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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