AUD/USD - Aussie soars after RBA shocks with 25-bp hike
The RBA defied expectations and delivered a 25-bp hike today. The Australian dollar has soared in response. The Fed is expected to follow suit
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The RBA defied expectations and delivered a 25-bp hike today. The Australian dollar has soared in response. The Fed is expected to follow suit
Weaker China manufacturing PMI and cautious RBA may prevent resurgence of AUD/USD bulls as it continued to trade below its 50-day MA.
RBA has caught market off guard by hiking 25 basis points to its cash rate to 3.85%, citing concerns about sticky inflation.
The RBA is widely expected to pause rates for a second straight month on Tuesday. US ISM Mfg. PMI declined for a sixth straight month
Markets have repriced an RBA pause at 100% after the drop in inflation. The banking turmoil has raised the odds for a Fed pause next week