AUD/USD aptly portrays pre-RBA anxiety at five-week top below 0.6800 – by anilpanchal7 AUDUSD RiskAversion RBA Fed Inflation
Interest Rate Decision on early Tuesday. It’s worth noting that the Aussie pair seesaws inside a 20-pip trading range in the last few hours as traders seem divided between a rate 0.25% rate hike and a status quo monetary policy meeting.
That said, Australia’s TD Securities Inflation eased to 0.3% MoM and 5.7% YoY for March versus 0.4% and 6.3% respective priors. Further, China’s Caixin Manufacturing PMI for March drops to 50.0 from 51.6 prior and 51.7 market forecasts. The downbeat US PMI data joined Friday’s softer prints of the US Core Personal Consumption Expenditure Price Index, the Fed’s preferred inflation gauge, to weigh on the market’s Fed bets. With this, the CME’s FedWatch Tool marked nearly 43% market bets on the Fed’s 0.25% rate hike in May, versus 52% expected on Friday.
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