AUD/USD stalls nearby 0.6500 amid UST yield surge, China’s real estate concerns – by christianborjon AUDUSD Currencies Majors
d demand for US bonds, a headwind for UST yields. Consequently, the US Dollar trimmed some of its gains, and the AUD/USD exchanged hands at 0.6487, down 0.08%.
Investors’ sentiment improved late in the New York session, but the Greenback remains in the driver’s seat in the FX space, a headwind for the Australian Dollar . US T-bond yields extend their gains, with the most sensitive to interest rate shifts, the 2-year gaining seven basis points at 4.960%. Echoing its tone, the 10-year benchmark note rate is 4.187%, climbing three basis points, a tailwind for the US Dollar.
In the meantime, Tuesday’s Asian session will feature the release of the Reserve Bank of Australia’s last meeting minutes, with no surprises expected after the RBA’s decided to hold rates at 4.10%. After that, the Wage Price Index is estimated to stay at 3.7%, though any upticks could be seen as inflation gathering momentum, triggering further action by the central bank.
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