AUD/USD falls from recent highs on risk-off impulse due to Fed tightening estimates – by christianborjon AUDUSD Majors Currencies
Fed) can continue to tighten monetary conditions. Hence, US Treasury bond yields remain climbing. The AUD/USD is trading at 0.6717 after hitting a high of 0.6741.The US Dollar is underpinned by elevated US T-bond yields. Compared to Tuesday’s close, the US 2-year Treasury note is yielding 4.265%, gains six and a half basis points. For the upcoming May meeting, traders expect a 25 bps rate hike, as theshows, with odds at 82.8%.
Regarding monetary policy, Bostic favors one more hike and a pause, while Bullard expects an additional 50 bps of tightening to lift rates to the 5.50%-5.75% range.On the Australian front, a lightkept AUD/USD traders leaning on recent data. The latest growth report about China’s economy maintained the Australian Dollar from falling further against the US Dollar.
were held steady at 3.60%. Notably, the minutes indicated concerns about high inflation and a tight labor market, leaving the possibility of further tightening on the table.Even though the AUD/USD fall was capped at the 20-day EMA at 0.6706, the pair remains neutral to downward biased. For a bullish resumption, the AUD/USD must break the 50-day EMA at 0.6734, which will pave the way toward the 100-day EMA at 0.6756. Break above, and the 0.6800 psychological level would be up for grabs.
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