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Oct 14 - 11:55 AM

AUD/USD - Eyes 2022 Low 0.6170 Amid Diverging Rates, Soft Global Growth View

By Paul Spirgel  —  Oct 14 - 10:20 AM
  • AUD$ slips 0.8% to 0.6250 in early NorAm; Fri range 0.6347-0.6220

  • Pair shrugs off post-CPI gain as Fed likely to remain higher-for-longer

  • Front-end FF futures pricing higher terminal Fed rate 4.92% in Apr 2023

  • Diverging U.S.-AU rate path weighs on A$, RBA on slower path higher IRPR

  • Weak oil and copper hint at deteriorating global growth outlook

  • Pair riding lower 30-d Bolli (0.6183) down, eyes 2 1/2-yr low at 0.6170

  • 10-DMA 0.6368 caps, AUD bears in control below 0.6653, 50% of 0.7136-0.6170

  • A close above 0.6653 shifts momentum to bulls; puts 30-DMA 0.6954 in focus

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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