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May 15 - 01:55 AM

AUD/USD - Bid On Carry Demand, Risk Rally; 0.6650 In Cross-Hairs

By Krishna K  —  May 15 - 12:00 AM
  • AUD/USD moves higher in Asia after opening at 0.6625; range 0.66215-0.6651

  • Takes slower than expected Australia Q1 wage growth in stride

  • Boosted by risk rally and soft U.S. yields; focus turns to U.S. CPI Wed

  • Supported as RBA rate expectations diverge from those of other c.banks

  • Carry trade demand persists; AUD/JPY heads for 104.88, 10-year high in April

  • Break of 0.6650 opens test of 0.6667-77, Mar high and 0.618% of Dec-Apr drop

  • Support 0.6610-15, 0.6580-85

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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