Australian dollar under pressure say analysts as RBA rate-hike cycle seen nearing its end
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The Australian dollar is under pressure after weak Chinese and domestic labour data, with analysts warning the RBA rate-hiking cycle may be over, removing a key support for the currency. Summary: Source: Commerzbank The AUD pulled back from a four-year high of 0.726 against the U
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AUD faces headwinds above 0.72 as RBA signals pause, TD warns
The Australian dollar (AUD) is likely to face significant resistance above 0.72 against the US dollar, primarily due to a dovish shift in the Reserve Bank of Australia's (RBA) messaging and external economic pressures. Per the full note from TD Securities, the RBA's recent 25 basis point hike to 4.35% was accompanied by a cautious outlook, suggesting a pause in future rate increases unless inflation data exceeds expectations. This dovish pivot, combined with geopolitical risks from the Middle East, casts doubt on the AUD's ability to sustain gains above 0.72, especially given the strong performance of the US dollar supported by hawkish Federal Open Market Committee (FOMC) signals.
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