AUD/USD portrays pre-RBA anxiety above 0.6600, ignores upbeat Aussie data – by anilpanchal7 AUDUSD RBA RiskAversion Macroeconomics Fed
n early Tuesday. In doing so, the Aussie pair also justifies the sluggish markets amid a light calendar and mixed concerns about the US Federal Reserve , especially after the recent downbeat US data. With this, the Aussie pair fails to react to the mid-tier data at home.
Australia’s first quarter Current Account Balance came in 12.3 billion versus 5.175 billion expected and 14.1 billion prior. With this, the hawkishbets gain momentum but fail to underpin the AUD/USD pair ahead of the central bank’s rate verdict. On the other hand, the US ISM Services PMI declined to 50.3 for May versus 51.5 expected and 51.9 prior whereas growth of the Factory Orders also deteriorated during the stated month to 0.4% versus 0.5% market forecasts and 0.9% previous readings. It should be noted that the final readings of S&P Global Composite PMI and Services PMI also marked softer figures for May.
It’s worth noting that the market’s bets on the Fed’s June rate hike dropped from around 80% in the middle of the last week to nearly 25% after the downbeat US data. The same could have joined an absence of the Fed talks to weigh on the US Treasury bond yields and the. However, hawkish comments from International Monetary Fund Managing Director Kristalina Georgieva and concerns about the need for the US large banks to hold more capital to battle the landing crisis prod the AUD/USD buyers.
Amid these plays, Wall Street closed in the red whereas S&P500 Futures print mild losses by the press time. Furthermore, the US 10-year Treasury bond yields remain pressured around 3.68%, after reversing Friday's rebound the previous day, whereas the two-year bond coupons also defend the week-start bearish bias near 4.46% by the press time.unchanged with a 3.85% benchmark rate.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD retreats to 0.6600 amid renewed US-Sino woes, focus shifts to RBAAUD/USD is seeing a negative start to the Reserve Bank of Australia (RBA) decision week, as investors digest the latest concerning developments betwee
Read more »
AUD/USD refreshes day low below 0.6600 despite mixed views for Fed policy, RBA policy eyedAUD/USD refreshes day low below 0.6600 despite mixed views for Fed policy, RBA policy eyed – by Sagar_Dua24 AUDUSD RBA Fed DollarIndex Inflation
Read more »
AUD/USD bulls eye 0.6670s, RBA around the cornerAUD/USD is higher by some 0.18% on the day and met support on Monday that attracted buyers to test the prior day´s high of 0.6638. This has occurred a
Read more »
AUD/USD Price Analysis: Bulls eye 0.6660 resistance confluence and RBA Interest Rate DecisionAUD/USD Price Analysis: Bulls eye 0.6660 resistance confluence and RBA Interest Rate Decision AUDUSD RBA Technical Analysis ChartPatterns SwingTrading
Read more »
AUD/USD Price Analysis: Extends pullback from 200-EMA towards 0.6560 support confluenceAUD/USD Price Analysis: Extends pullback from 200-EMA towards 0.6560 support confluence AUDUSD Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
AUD/USD holds steady near daily peak, around 0.6600 ahead of US ISM Services PMIThe AUD/USD pair attracts some dip-buying near the 0.6580 area and climbs to the top end of its intraday trading range during the early North American
Read more »