The AUD/USD remains under pressure since the weak data of the May PMI supports the expectations of RBA features. The torque struggles to stay above its 200 -day mobile average, with the markets now valuing 75 basic relaxation points in next year, BBH FX analysts report.
The AUD/USD stagn below the 200 -day mobile average in the midst of bets for feat cuts
“The Aud/USD is struggling to keep a break over its 200 -day mobile average at 0.6450. Australia reported a weak May PMI, strengthening the Dovish posture of the RBA.”
“The compound PMI fell 0.4 points to a minimum of three months in 50.6, the PMI of Services dropped 0.5 points to a minimum of six months in 50.5, and the manufacturing PMI remained unchanged in 51.7. Futures of the RBA cash rate value a total of 75 basic cuts of cuts to a minimum of 3.10% in the next 12 months.”
Source: Fx Street
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