AUD/USD adds to Tuesday’s losses near 0.6600. Higher yields and hawkish Fedspeak lent support to the US Dollar. Australia n inflation surprised to the upside in April. The sustained buying pressure on the US Dollar led to additional losses in AUD/USD, driving it to a three-day low near 0.6610 on Wednesday.
The RBA's economic forecasts suggest that inflation will remain high until Q2 2025, driven by service price inflation, before returning to the 2%–3% target range by late 2025 and reaching the midpoint by 2026. Investors currently expect the RBA to keep its Official Cash Rate unchanged at its June 18 meeting, while money markets see the first rate cut by the RBA in April 2025.
Recommended Australia RBA Inflation
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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 Forecast: Further gains appear likely near termMonday witnessed renewed selling pressure on the US Dollar (USD), prompting AUD/USD to maintain its upward momentum for the second week in a row and briefly poke with the provisional 100-day SMA in the 0.6580-0.6585 band, or three-week tops.
Source: FXStreetNews - 🏆 14. / 72 Read more »
AUD/USD Price Forecast: Breakout from rising channel suggests more downsideAUD/USD has decisively broken out of the rising channel it was rallying within on the 4-hour chart and more weakness is expected in the near-term.
Source: FXStreetNews - 🏆 14. / 72 Read more »
AUD/USD Forecast: Initial hurdle comes at 0.6585Tuesday saw a resurgence of buying pressure on the US Dollar (USD), which kept AUD/USD on the defensive, prompting it to retreat after six consecutive daily gains, including a move to three-week highs around 0.6580 on April 29.
Source: FXStreetNews - 🏆 14. / 72 Read more »
AUD/USD Forecast: A drop to the 2024 low is not ruled outOn Wednesday, a resurgence of selling pressure on the US Dollar (USD) prompted AUD/USD to regain some composure and partially reclaim ground lost on Tuesday’s steep pullback.
Source: FXStreetNews - 🏆 14. / 72 Read more »
AUD/USD Forecast: Further gains retarget 0.6650Thursday saw another negative session of the US Dollar (USD), prompting AUD/USD to build on Wednesday’s gains and extend the trespass of the 0.6500 barrier along with the key 200-day SMA (0.6520).
Source: FXStreetNews - 🏆 14. / 72 Read more »
AUD/USD Forecast: Extra advance now looks to the RBAMonday’s irresolute price action in the US Dollar (USD) encouraged AUD/USD to trespass the key 0.6600 barrier and trade once again at shouting distance from recent peaks near 0.6650.
Source: FXStreetNews - 🏆 14. / 72 Read more »