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Jul 13 - 08:55 PM

AUD/USD - Sold On Expectations Of A Jumbo Fed Rate Hike

By Krishna K  —  Jul 13 - 08:20 PM
  • AUD/USD down 0.4% on increased expectations of a 100 bps Fed July rate hike

  • Undermined by largest increase in US consumer inflation since 1981

  • Fed rate bets reinforced by Bank of Canada's surprise 100 bps rate hike Wed

  • Risk aversion on global recession fears weigh; S&P E-Mini down 0.7%

  • Sliding commodities and metals to limit AUD recovery attempts

  • Australia jobs data due Thursday, likely to cement RBA rate expectations

  • Support 0.6710-20, 0.6650, resistance 0.6770-75, 0.6800-05

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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