By Krishna K — Aug 28 - 11:25 PM
AUD/USD up 0.1% in Asia but fails to gain foothold above 0.6800
Capped by risk aversion as Wall Street futures slide on Nvidia's forecast
Nvidia's forecast dampens AI enthusiasm in other tech stocks
Australia Q2 business investment slides 2.2%, could be a drag on Q2 GDP Wed
AUD/NZD sales weigh on Aussie as New Zealand business confidence soars
AUD downside limited as RBA-Fed rate expectations continue to diverge
102 bps of Fed rate cuts priced in by Dec 2024 but just 21 bps of RBA cuts
U.S. Q2 GDP 2nd estimate Thu and core PCE price index Fri key for direction
Resistance 0.6819, 61.8% of 0.7158-0.6271 drop in 2023 & 0.68385, 2024 high
Support 0.6760-65, 0.6730-35; Asia range 0.68035-0.6781
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary