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May 14 - 07:55 PM

AUD/USD - Boosted By Powell's Inflation Optimism, Risk Rally

By Krishna K  —  May 14 - 07:15 PM
  • AUD/USD opens 0.3% higher as Powell plays down rise in U.S. PPI

  • Boosted by risk rally, lower U.S. yields on upbeat comments from Fed chair

  • Powell bullish on U.S. economy, confident inflation will decline

  • Hopes for 'soft landing' at stake as investors await key U.S. CPI Wednesday

  • Metals rally supports AUD; CME copper hits record peak on fund buying

  • Carry trade demand underpins AUD; AUD/JPY +0.4% Tue, nears 103.73 resistance

  • Australia budget doles out energy, rent relief in bid to tame inflation

  • Australia wage growth data and PBOC one-year MLF rate setting awaited Wed

  • Tue range 0.6578-0.6627, support 0.6605,0.6580-85, resistance 0.6630, 0.6650

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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