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TDUX
May 04 - 10:55 PM

AUD/USD - Softens Ahead Of Pivotal RBA Call

By James Connell  —  May 04 - 09:31 PM

• AUD/USD -0.2% Tue in subdued trading as RBA decision dominates agenda

• RBA meeting outcome 0430 GMT, 25 bps OCR hike expected, dialogue crucial

• RBA hike & hawkish guidance may spur challenge of 0.7250-85 resistance

• AU Apr S&P PMIs: composite 50.4 (prior 50.1), services 50.7 (prior 50.3)

• U.S.-Iran ceasefire in doubt after Iran attacks ships and UAE oil port

• U.S. Mar international trade value data and Apr PMIs due Tue

• Range Asia 0.7153-71, support 0.6834 0.6660, resistance 0.7250 0.7283
AUD Weekly 52-WMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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