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Jan 25 - 11:55 PM

AUD/USD - Consolidates After Hefty Gains, Eyes US Data

By Krishna K  —  Jan 25 - 10:10 PM
  • AUD/USD trades in a narrow but well supported 0.7093-0.7123 range in Asia

  • Hawkish RBA expectations support after hot Q4 inflation Wed shocked traders

  • Risk of 2 more 25bps RBA hikes to 3.6% being priced in; some expect 3.85%

  • Ability to hold its 3.3% gains from last Thu low of 0.6872 signals strength

  • Positive fundamentals, constructive chart signals point to further gains

  • Upbeat analysts' calls on Asian stocks & AXJ currencies lift AUD sentiment

  • Caution ahead of Thu-Fri U.S. data, Feb 1 Fed rate decision may slow rally

  • Australia markets closed Thu; resistance 0.7125-35, support 0.7060-65

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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