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May 16 - 10:55 PM

AUD/USD - Slightly Offered After Week's Robust Rally

By Krishna K  —  May 16 - 09:50 PM
  • AUD/USD touch lower in Asia as USD resumes rally versus JPY after Wed drop

  • Consolidates as traders rethink RBA and Fed interest rate expectations

  • Markets price out RBA hike after softer than expected Australia labour data

  • Futures imply a 44% chance of Dec 25 bps rate cut, 67% chance of a Feb cut

  • USD broadly higher Friday as Fed officials also signal caution on policy

  • China monthly activity eyed for direction; resistance 0.6700, 0.6715

  • Supports 0.6645-55, 0.6620-25; Asia range 0.66835-0.66665

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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