AUD/USD jumps back towards 0.7250 on RBA’s surprise 50 bps rate hike By anilpanchal7 AUDUSD RiskAppetite RBA Fed YieldCurve
Alternatively, China’s hopes of faster economic recovery challenge the AUD/USD bears, considering Australia’s strong trade ties with the dragon nation. China Securities Journal praised the country’s virus control and policy stimulus while expecting economic improvement in the second half of 2022.
Not only the risk-off mood and immediate reaction to the RBA’s rate hike but a sudden shift in favor of the bears in the options market also kept the pair sellers hopeful before the RBA. That said, one-month risk reversal on the AUD/USD pair, a spread between the calls and puts, snapped a three-day uptrend while flashing -0.090 figures at the latest, per Reuters’ data on the options market. In doing so, the Aussie RR also challenge the three-week rally before the previous day’s downbeat figure.
While portraying the mood, S&P 500 Futures print nearly half a percent daily loss around 4,100 whereas S&P/ASX 200 index, the leading Aussie equity gauge, drops 1.63% to 7,086 at the latest. It’s worth noting that the share price index broke fortnight-long support as sellers attack a one-week low. Also, the US 10-year Treasury yields rise for the seventh consecutive day to 3.045%, up 05 basis points by the press time.
Having witnessed the initial market reaction to the RBA’s move, AUD/USD traders will keep their eyes on the qualitative catalysts, amid a lack of major data/events ahead of Friday’s inflation data from the US and China. However, the US Goods and Services Trade Balance for the said month,Technical analysis
A clear downside break of the three-week-old ascending trend line, around 0.7240 by the press time, directs
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