By Krishna K — Nov 14 - 06:30 PM
AUD/USD steadies in early Asia after closing 0.5% lower on Thursday
Weighed down by Powell signaling caution on rate cuts
Powell says no need for Fed to rush rate cuts given strong economy
Fed Chair says c.bank has time to see what Trump policies mean for economy
Expectations for Fed 25 bps cut in Dec falls to 62.5% from 82.5% Wednesday
High U.S. yields, weak commodities, China concerns continue to weigh on AUD
Support 0.6441 April 23 low, break opens 0.6408, low on April 22nd
Major support base at 0.63485-0.63625; resistance 0.6490-0.6500, 0.6515-20
China monthly activity data Friday awaited; Thu range 0.6441-0.64995
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary