The decent advance in the US Dollar (USD) did not prevent the Aussie dollar from regaining some composure and encouraging AUD/USD to reclaim the area past 0.6600 the figure following Friday’s strong decline.
AUD/USD partially reverses Friday’s steep retracement. Gains in the US Dollar mainly affect the Euro following elections. The next risk event for AUD comes from the FOMC meeting. The decent advance in the US Dollar did not prevent the Aussie dollar from regaining some composure and encouraging AUD/USD to reclaim the area past 0.6600 the figure following Friday’s strong decline.
Currently, money markets are forecasting about a 20-bps easing by May 2025, with potential rate hikes still possible in August and November. Supporting this, the RBA's Monthly CPI Indicator rose more than expected in April, increasing to 3.6% from 3.5%. Given the Fed's commitment to tightening and the likelihood that the RBA will maintain its restrictive stance for an extended period, AUD/USD is expected to further consolidate in the coming months.
Recommended Currencies Australia RBA
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Forecast: Attention shifts back to 0.6700The marginal decline in the US Dollar (USD) seems to have been enough to spark a strong rebound in AUD/USD on Thursday, which reclaimed the area around 0.6660, or two-day highs.
Read more »
AUD/USD Forecast: Bulls failed to regain the upper handThe continuation of the buying interest in the US Dollar (USD) sparked another negative session in AUD/USD, which flirted with four-day lows in the 0.6630-0.6625 band on Wednesday.
Read more »
AUD/USD Forecast: The 0.6700 region limits the upside for the time beingThe renewed buying interest on the US Dollar (USD) resulted in significant losses in AUD/USD, halting a multi-session positive streak, including another failed attempt to test or surpass the key 0.6700 barrier.
Read more »
AUD/USD Forecast: Extra gains need to clear 0.6700The unabated selling pressure on the US Dollar (USD) led to additional gains in AUD/USD, resulting in three consecutive sessions of gains and a move to the proximity of 0.6700 the figure on Monday.
Read more »
AUD/USD Forecast: Further consolidation is not ruled outThe renewed selling pressure on the US Dollar (USD) led to additional gains in AUD/USD, motivating it to two consecutive sessions of losses on Thursday.
Read more »
AUD/USD Forecast: Provisional support emerges around 0.6560The sustained buying pressure on the US Dollar (USD) led to additional losses in AUD/USD, driving it to a three-day low near 0.6610 on Wednesday.
Read more »