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Jan 31 - 05:55 PM

AUD/USD - Slides As Powell Pushes Back On March Rate Cut

By Krishna K  —  Jan 31 - 03:50 PM
  • AUD/USD down 0.7% in late NYK trading as Fed signals caution on rate cuts

  • Fed holds rates steady, says more confidence needed in inflation slowdown

  • Powell knocks down prospect of Mar rate cut; says not base case for Fed

  • Wall Street declines, Treasury yields pare losses, USD index rallies

  • AUD slides from 0.6600 to fresh intra day low of 0.6552, support 0.6540-50

  • Charts turn bearish after multiple failures near 0.6620-25; Wed high 0.6622

  • Benign AU inflation data Wed stokes bets for an earlier RBA rate cut, weighs

  • Asia stock markets and China Caixin manufacturing PMI key for direction Thu

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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