The AUD/USD goes back after you fail to maintain a maximum of several months – BBH

He AUD/USD cut out profits after testing the resistance about 0.6450while market attention moves to the next IPC data of the first quarter. While RBA officials remain cautious about the progress of inflation, markets have completely discounted a rate cut at the March 20 meeting, reflecting the continuous uncertainty about commercial policy and inflation dynamics, the foreign exchange analysts of BBH.

The statements of Christopher Kent, a member of the RBA, do not offer monetary policy signs

“The aud/usd cut profits after testing a maximum of several months in 0.6450 during the night. There was no relevant information for the policy in the discourse of the deputy governor of the RBA, Christopher Kent, during the night. Kent discussed the external position of Australia and recognized ‘the strong increase in volatility in the currency markets in early April’. A maximum of two years due to news related to US uncertainties around US and the possible economic impact of tariffs, and the volatility in foreign exchange will probably mainly maintain volatility. “

“The first quarter IPC is the next highlight of domestic data (tomorrow, 2:30 am london). The general CPI of Australia is expected to be 2.3% interannual compared to 2.4% in the fourth quarter and it is expected that the IPC of half a cut relevant for the policy is of the 2.8% year -on -year compared to 3.2% in the fourth quarter. 2.7% cut along its forecast horizon until 2027. Meanwhile, Governor Michele Bullock warned that the Board does not have “_100% confidence_” in which inflation is moving sustainably towards the midpoint of the target range of 2–3%. For the RBA policy meeting of March 20, the futures of the cash rate have completely discounted a cut of 25 basic points and a 16% probability of an additional cut of 25 basic points.