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May 06 - 07:55 AM

AUD/USD - Stages Modest Pullback After Three Day Surge

By Peter Stoneham  —  May 06 - 06:05 AM
  • A tight 0.6606-0.6630 range so far Monday

  • Speed and magnitude of last week's gain argues for consolidation

  • Friday high of 0.6650 the initial hurdle for the AUD

  • March 8 high the next resistance and AUD bull target at 0.6667

  • Expectations of a hawkish shift in RBA's rate stance on Tues underpins

  • A rate hike should not be ruled out but consensus is for no

  • Markets are pricing in around a one-in-10 chance of a hike

  • Softer U.S. labour report added to fuel to the easier dollar scenario

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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