AUD/USD sank 0.3% to 0.7070. AUDUSD May Fall 36-66pips
Hello Friends, Traders and Investors. I bring you the daily update for the Aussie.
SHORT POSITIONS below 0.7095 with targets at 0.7030 and 0.7000
LONG POSITIONS Above 0.7095 look for further advance with 0.7115 and 0.7130 as targets
The minutes from the early May Fed meeting, released Wednesday, indicated that the central bank policymakers will be sticking to a plan to raise rates by a half-percentage point at its next two meetings starting next month, largely as expected.
They also played down even more aggressive tightening while also creating the possibility of a pause in rate hikes, after the June and July increases.
The backing off of Fed tightening bets has followed slowing economic growth, with new home sales falling almost 17% last month and retailers reporting disappointing results as consumers fall back on optional spending as the prices of essentials like food and petrol soar.
The Release of first quarter GDP is expected to show a drop to 1.3% .
This is an article not Financial Advice always do your own research
If you have questions you can write it in the comments below and I will answer them
And please don’t forget to support this idea with your likes and comments
SHORT POSITIONS below 0.7095 with targets at 0.7030 and 0.7000
LONG POSITIONS Above 0.7095 look for further advance with 0.7115 and 0.7130 as targets
The minutes from the early May Fed meeting, released Wednesday, indicated that the central bank policymakers will be sticking to a plan to raise rates by a half-percentage point at its next two meetings starting next month, largely as expected.
They also played down even more aggressive tightening while also creating the possibility of a pause in rate hikes, after the June and July increases.
The backing off of Fed tightening bets has followed slowing economic growth, with new home sales falling almost 17% last month and retailers reporting disappointing results as consumers fall back on optional spending as the prices of essentials like food and petrol soar.
The Release of first quarter GDP is expected to show a drop to 1.3% .
This is an article not Financial Advice always do your own research
If you have questions you can write it in the comments below and I will answer them
And please don’t forget to support this idea with your likes and comments
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