AUD/USD portrays anxiety ahead of Aussie budget, US inflation around mid-0.6700s – by anilpanchal7 AUDUSD FiscalPolicy RBA Fed Inflation
In doing so, the risk-barometer pair also portrays the market’s mixed feelings amid the fears emanating from the US banks and debt ceiling talks, as well as optimism surrounding Australia and the Reserve Bank of Australia’s hawkish bias.worsens of late as pressure on the US policymakers to solve the debt ceiling riddle mounts amid the likely exhaustion of funds by June. Adding to the risk-off mood can be the looming US credit rating cut by a European rating agency.
On the same line, RBA’s quarterly Statement on Monetary Policy , also known as the Monetary Policy Statement , showed readiness for further rate hikes and defended hawks after surprising markets with a 0.25% rate lift earlier in the week. by 253K expected and revised down prior readings of 165K. Further, the Unemployment Rate also eased to 3.4% versus 3.5% market forecasts and previous mark whereas Average Hourly Earnings improved to 4.4% YoY from 4.3% prior and analysts’ estimations of 4.2%.
Against this backdrop, S&P 500 Futures print mild losses while the US Treasury bond yields also remain pressured, which in turn allows the US Dollar to lick its wounds.
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