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May 12 - 08:55 PM

AUD/USD - Cautious Start As An Eventful Week Unfolds

By Krishna K  —  May 12 - 07:35 PM
  • AUD/USD may trade in 0.6580-0.6630 range within a broader 0.6550-0.6650 band

  • Traders cautious ahead of week's risk events; U.S. inflation, AU jobs eyed

  • Fed officials mull whether rates high enough as inflation expectations jump

  • Australia govt budget Tue, wages data Wed key for inflation expectations

  • Australia says inflation could ease to RBA target range by year end

  • Cuts 2024/25 real GDP growth forecast to 2% from Dec outlook of 2.25%

  • Mild optimism on China economic recovery likely to underpin AUD

  • China's 2024 iron ore imports seen at record on robust demand; AUD positive

  • Higher-for-longer RBA rate stance will continue to support AUD

  • Support 0.6585-90,0.6560 resistance 0.6630, 0.6650; Fri range 0.6629-0.65965

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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