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May 09 - 10:55 PM

AUD/USD - Touch Lower As Profits Booked On Overnight Rally

By Krishna K  —  May 09 - 10:10 PM
  • AUD/USD -0.1% in Asia as s/term accounts book profits after 0.6% Thu rally

  • Downside limited; RBA rate expectations diverge from those of other c.banks

  • Markets imply a 27% chance of a RBA rate hike, price out cuts this year

  • Contrasts with a 69% chance of a Fed rate cut in Sep as jobs market slows

  • Chances of ECB cut in June at 88%, 50-50 chance of BOE cut in some month

  • Caution ahead of US inflation data next week, China inflation data Sat caps

  • Support 0.6590-0.6600, resistance 0.6625-30, 0.6645-50, 0.6667-77

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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