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May 13 - 08:55 PM

AUD/USD - RPT-BUZZ-AUD/USD-Holds Perfectly In A Range, Awaits Australia's Budget

By Krishna K  —  May 13 - 07:35 PM

Repeats for wider audience

  • AUD/USD consolidation in 0.6580-0.6630 range to continue as risk events loom

  • RBA rate expectations diverge from those of other major c.banks, supports

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

  • Copper climbs towards two-year peak, Dalian iron ore gains 2%, underpin AUD

  • Australia budget, US PPI Tue; Powell participates in a moderated discussion

  • Support 0.6585-90,0.6560 resistance 0.6630, 0.6650; Mon range 0.6586-0.6629

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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