KVB Market Analysis | 7 August: AUD/USD Recovers Above 0.6500 Amidst RBA Hawkish Hold and Commodity Price Gains
Following fresh 2024 lows near 0.6350, AUD/USD bounced back above 0.6500 on Tuesday, returning to positive weekly territory. The pair remains focused on the 200-day SMA at 0.6592, with a negative bias expected below this level. The recovery was supported by rising copper and iron ore prices and a hawkish hold from the RBA.
KVB Market Analysis | 6 August: USD/JPY Recovers from January Lows Amid Recession Fears and Fed Rate Cut Speculation
The USD/JPY pair has rebounded to around 145.40 after dropping to its lowest level since January at 141.68, amid early Asian trading. The US Dollar's decline was driven by recession fears and expectations of significant Federal Reserve rate cuts. The rise in the US Unemployment Rate in July has heightened concerns about a recession, leading markets to anticipate rate cuts of 50 basis points in September and November, and an additional 25 basis points in December.
S&P 500 Outlook: Fed Rate Cut Speculation & Market Volatility | March 20, 2024
Navigating Uncertainty: Insights for Traders & Investors
US Dollar Turns to GDP Data & Fed Rate Cut Bets
With US GDP data on deck for Friday's trading session, forex market participants will likely scrutinize the report for insight into the Fed's upcoming policy decision and its impact on the US Dollar.
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