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Nov 01 - 02:55 AM

AUD/USD - Gives Back Some Gains After RBA Hikes 25 BPs

By John Noonan  —  Oct 31 - 11:50 PM
  • AUD/USD opened -0.22% at 0.6397 after USD firmed on higher US yields

  • AUD/USD tracked higher as risk assets were buoyant to start the month

  • E-minis rose 0.35% while AXJ equity index gained 1.4%

  • AUD/USD traded as high as 0.6446 and was 0.6435/40 before RBA decision

  • RBA hikes 25 BPs as expected, but some were looking for possibility of 50 nAZN0OZGRY

  • AUD/USD eased to 0.6408 before settling around 0.6415/20

  • It was a hawkish hike as RBA promised more rate hikes over coming months

  • RBA increased inflation forecast for 2022 from 7.75% to 8.0%

  • AUD/USD support is at the 10-day MA at 0.6382 and 21-day MA at 0.6359

  • The market's attention will now shift to the Fed decision Wednesday

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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