Normal
While there was speculation that the RBA would being to slow the pace of rate hikes after Gov Lowe's comments last month, markets were still widely expecting one last 50bps move today before that pivot.AUD/USD has consolidated between 0.6400 and around 0.6530 over the past week, and there is still a lot of key US data this week, including the NFP report, that will likely play a key role in direction. All trading carries risk, but the pair could be exposed to break lower if the American economy shows signs of resilience and continues to support Fed aggression.
While there was speculation that the RBA would being to slow the pace of rate hikes after Gov Lowe's comments last month, markets were still widely expecting one last 50bps move today before that pivot.
AUD/USD has consolidated between 0.6400 and around 0.6530 over the past week, and there is still a lot of key US data this week, including the NFP report, that will likely play a key role in direction. All trading carries risk, but the pair could be exposed to break lower if the American economy shows signs of resilience and continues to support Fed aggression.
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