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Jun 02 - 07:55 PM

AUD/USD - Stays Bid As Fed Rate Cut Expectations Strengthen

By Krishna K  —  Jun 02 - 07:20 PM
  • AUD/USD likely to remain bid on dips after closing 0.2% higher Friday

  • Boosted by lower U.S. yields after data showed inflation stabilized in April

  • Apr PCE price index +0.3, on expectations; May Chicago PMI lowest in 4 years

  • Price cuts, weaker spending could bolster Fed's faith in inflation outlook

  • Higher-for-longer RBA rate expectations continue to support AUD

  • China Caixin manufacturing PMI Mon watched after official PMIs disappoint

  • Busy data week for Australia; Q1 GDP, current account, and April trade eyed

  • Early in the week, the partials comprising GDP will be released

  • Support 0.6625-30, major at 0.6580-90, resistance 0.6675-80, 0.6695-0.6700

  • Friday global range 0.66275-0.66725

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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