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Apr 28 - 08:55 AM

AUD/USD - Inflation Shock, Yields Inspire Bears Ahead Of The Fed

By Christopher Romano  —  Apr 28 - 07:24 AM
  • Weakest on record AU inflation nL1N2ML028 sinks AU yields & AUD

  • RBA likely to strike dovish tone as inflation remains well below target

  • Gains in US 10-yr yield US10YT=RR help drive US$ broadly higher

  • Copper HGv1, iron-ore DCIOc2 drop, help to weigh down AUD/USD

  • AUD/USD drops below the 10-DMA in Asia, slide halts at the 55-DMA

  • Only a meager bounce ensues, pair holds below the daily cloud base

  • Falling daily RSI implies shorter-term momentum is to the downside

  • Fed in focus, if yield rally persists after Fed AUD/USD drop likely deepens

  • For more click on FXBUZ



aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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