AUD/USD traders get set for a potential wild ride in economic events – by fx_ross AUDUSD Fed DollarIndex Currencies
by more than expected, while mixed US data last week has had money markets paring back expectations for a super-sized US rate hike. This has weighed on US yields.
Meanwhile, the FOMC is expected to follow up June's large 75bp rate increase with a similar move in July. ''In doing so, the Committee would bring the policy stance to its estimate of the longer-run neutral level,'' analysts at TD Securities said. ''We also look for Chair Powell to retain optionality by leaving the door open to additional 75bp rate increases.''
Meanwhile, Australian Consumer Price index data this week is expected to come in hot and in line with an uber hawkish Reserve Bank of Australia rhetoric. Analysts at TD Securities explained to expect outsized headline/ underlying prints vs consensus. ''The magnitude of the increases for the main drivers are: 1) Housing 3.2% QoQ; 2) Food 2.25% QoQ; 3) Transport 2.3% QoQ; 4) Household Services 1.65% QoQ & 5) Recreation 1.2% QoQ.
From a bullish perspective, analysts at Rabobank expect AUD/USD to hold around current levels on a 1-to-3-month view, but they see scope for the currency pair to edge up to 0.70 on a 6-month view and 0.74 in 12 months.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alaska News Nightly: Friday, July 22, 2022 - Alaska Public MediaWhat campaign contributions can tell us about Alaska's gubernatorial race. Yukon River fishermen turn to food stamps during the lowest chinook run on record. And state health officials urge older Alaskans to seek COVID treatment quickly after testing positive.
Read more »
Friday was our fifth 90-degree day, but may have been a summer milepostWe are now a month past the solstice; days are subtly shortening.
Read more »
2 Men Wounded After Friday Morning Shootout Between Suspect and Chicago PoliceThree people are in custody following an exchange of gunfire between a pair of Chicago police officers and another man outside a Pilsen storefront early Friday morning.
Read more »
25 Shot Friday into Saturday Night in Mayor Lightfoot's ChicagoTwenty-five people were shot Friday into Saturday night in Mayor Lori Lightfoot's (D) Chicago.
Read more »
Blue Jays set franchise record with 28 runs Friday night at Fenway ParkThe Toronto Blue Jays scored 28 runs against the Boston Red Sox Friday night, a franchise record. The onslaught also produced the most runs ever allowed by a Red Sox team.
Read more »
Denver's cooling centers open Friday, Saturday amid dangerous heatAs temperatures near the triple digits Friday and Saturday around Denver, the city will open cooling centers to give residents a break from the intense heat.
Read more »