AUD/USD stays below stress as weak Could PMI knowledge helps expectations for RBA price cuts. The pair struggles to carry above its 200-DMA, with markets now pricing in 75bps of easing over the subsequent yr, BBH FX analysts report.
AUD/USD stalls under 200-DMA amid price minimize bets
“AUD/USD is struggling to maintain a break above its 200-day shifting common at 0.6450. Australia reported mushy Could PMI, strengthening the RBA’s dovish coverage stance.”
“The composite PMI dipped 0.4 factors to a three-month low at 50.6, the providers PMI dropped 0.5 factors to a six-month low at 50.5, and the manufacturing PMI was unchanged at 51.7. RBA money price futures price-in a complete of 75bps of cuts to a low of three.10% within the subsequent 12 months.”
