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Thomson Reuters
May 26 - 05:00 PM
AUD/USD - Bears Scurry, Weak US Data Fans Fed Rate Cut Hopes
First appeared on eFXplus on May 26 - 03:20 PM
  • AUD/USD moves to higher end of consolidation range as U.S. data disappoints
  • Economy slows as U.S.-China trade dispute bites, Fed rate cut hopes rise
  • J.P. Morgan slashes U.S. Q2 GDP outlook to 1%
  • Expectations of aggressive RBA easing curbs AUD rally potential
  • AU bond yields @ record lows, traders ponder growing probability of 3 cuts
  • Resistance 0.6940-45 & 0.6960; support 0.6905-10, pivotal @ 0.6852-65

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Source:
Thomson Reuters IFR Markets

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