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May 03 - 01:55 AM

AUD/USD - Stays Bid As Risk And Asian Currencies Rally

By Krishna K  —  May 02 - 11:45 PM
  • AUD/USD +0.1% in Asia after trading a relatively narrow 0.6565-0.6585 range

  • Opened at 0.6568, moved higher as JPY rallied above 103.00, CNH above 7.2000

  • Failed to break 0.6587 Mon high, settles at 0.6572 ahead of Europe open

  • Fed indicating that it is still leaning toward a dovish stance weighs on USD

  • Expectations of a hawkish shift in RBA rate stance on Tue underpins AUD

  • POLL-RBA to hold rates in May, only cut once by end-year

  • Focus turns to U.S. payrolls data Friday, forecast is for 243,000 new jobs

  • Resistance 0.6585-90, 0.6610-15, support 0.6545-50, 0.6520-25

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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