❗️RBA's Hawkish Stance Supports AUD❗️
The Australian Dollar (AUD) rebounds after a brief dip from a five-month high against the US Dollar (USD). The pullback followed gains for the USD driven by positive US economic data. The Reserve Bank of Australia (RBA) maintains a hawkish stance, as indicated in Meeting Minutes, and is expected to assess risks before deciding on future interest rates.
Market expectations, reflected in the World Interest Rate Probability Tool (WIRP), suggest a likelihood that the RBA will avoid a rate cut in the upcoming February meeting. Despite improved US Treasury yields, the US Dollar Index (DXY) weakens on Thursday, influenced by dovish sentiments regarding the Fed's interest rate trajectory in early 2024, though Fed officials caution against premature speculation.
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#AUD/USD# usd
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#market#
#EconomicTrends#
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