AUD/USD faces pressure due to the weak Australian Dollar . The RBA didn’t mention the need for more rate hikes in the March’s policy minutes. Market sentiment remains downbeat as Fed rate cut expectations for June ease. The AUD/USD pair struggles to get an auction above the psychological resistance of 0.6500. The Aussie asset is facing pressure despite the US Dollar edging down in Tuesday’s European session after refreshing a four-month high.
The market sentiment shows investors are risk-averse as traders have pared bets favoring Federal Reserve (Fed) rate cuts in the June policy meeting. Considering negative overnight futures, the S&P 500 is expected to open on a bearish note. 10-year US Treasury yields rose sharply to 4.39%. The US Dollar Index (DXY) slips from a fresh four-month high slightly above 105.00 to 104.80. The near-term appeal of the US Dollar is upbeat due to the firm US economic outlook. The US economy grew at a robust pace of
Source: News Formal (newsformal.com)
AUD/USD Australian Dollar RBA Rate Hikes Market Sentiment Fed Rate Cuts US Dollar S&P 500 US Treasury Yields US Dollar Index Economic Outlook
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