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May 19 - 02:55 AM

AUD/USD - Holds Below 0.7800 As RBA's Wages Target Far Away

By Krishna K  —  May 19 - 01:17 AM
  • AUD/USD consolidates in Asia as traders await Fed April meeting minutes Wed

  • Fed expected to remain steadfastly dovish despite fears of rising inflation

  • AUD to remain capped as Australia Q1 wage growth remains anemic nL2N2N603E

  • RBA will need to stay accommodative for long time to reach inflation target

  • Rising risk aversion likely to stymie Aud; ASX 200 down 2%, E-Mini down 0.5%

  • Dalian iron down 3.6%, copper drops 0.6%, likely to limit AUD rallies

  • Resistance 0.7813-18, 0.7840-45, support 0.7770-75, 0.7745-50, 0.7725-30

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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