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May 01 - 04:55 PM

AUD/USD - Risk Assets Boosted As Fed Hikes Seem Unlikely

By Christopher Romano  —  May 01 - 02:55 PM
  • NY opened near 0.6480 after 0.64655 traded in Europe, rally extended early

  • YieldsUS2YT=RR,US$ were soft after ADP, JOLTS & ISM PMI sent mixed signals

  • Gold XAU= rallied & USD/CNH fell to 7.2418 (D3) to help weigh on the US$

  • AUD/USD hit 0.64975 then slid, sat near 0.6490 ahead of the Fed statement

  • US$ fell, risk assets lifted on Fed's policy statement, AUD/USD hit 0.6505

  • During Chair Powell's presser no hints given that rate hikes are coming

  • Equities ESv1 turned positive, UDS/CNH fell further, gold rally extended

  • AUD/USD rallied above the 10-, 21-, 55- & 200-DMAs, 0.6539 traded

  • Pair was up +1.00% late and technical signals leaned bullish

  • Daily RSI diverged on the 6-session low, rally follows April doji candle

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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