The Aussie Dollar tumbled more than 0.50% on Wednesday versus the Greenback amid elevated US Treasury yields, as another bond auction witnessed softer demand.
AUD/USD declines to 0.6608 as US Treasury yields climb amid soft bond demand. Mixed regional Fed surveys and hawkish remarks from Fed’s Kashkari impact market sentiment. Australian CPI rises to 3.6% YoY in April; analysts expect rate cuts starting in November. A scarce economic docket in the United States featured the release of regional Fed surveys, which were mixed. The AUD/USD trades at 0.6608, almost flat as Thursday’s Asian session commences. AUD/USD falls towards 0.
” The economic docket in Australia will feature a speech by Reserve Bank of Australia Assistant Governor Sarah Hunter and data on Building Permits. AUD/USD Price Analysis: Technical outlook Despite remaining bullish-biased, the AUD/USD seems poised for a pullback if buyers fail to defend 0.6600. Momentum shows that sellers are stepping in, as the Relative Strength Index pierced below the 50-midline. This could pave the way for increased selling pressure, driving prices lower.
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