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May 15 - 10:55 PM

AUD/USD - Stays Bid; RBA Sees No Quick Relief On Housing Dearth

By Krishna K  —  May 15 - 08:50 PM
  • AUD/USD up 0.2% Thu, rallies above 0.6700 to 4-mth high as USD stays offered

  • Boosted by risk rally, lower U.S. yields and rising commodity prices

  • U.S. 10-yr yield drops to 1 month-low on soft retail sales, benign inflation

  • Traders now pricing in 52 bps of Fed rate cuts this year with 1st cut in Sep

  • RBA rate expectations diverge from those of other c.banks, fuel AUD advance

  • No quick fix for Australia's housing shortage, warns RBA Asst.Governor Hunt

  • Says upward pressure on rents, prices, will remain until there is new supply

  • RBA likely to stay higher-for-longer on rates; AU employment data awaited

  • Resistance 0.6731-51, Jan 24th high and the 76.4% of the Dec-April drop

  • Support 0.6665-70, 0.6645-50; Asia range 0.6696-0.6710

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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