AUD/USD Falls After RBA Statement Seen Not Hawkish Enough -- Market Talk

Dow Jones05-07

0534 GMT - AUD/USD falls after the RBA's statement was seen as not hawkish enough, analysts say. The "statement fell short of expectations for an explicit tightening bias," Richard Franulovich, head of FX strategy at Westpac, says in a commentary. The RBA's board instead kept more neutral and balanced language around "not ruling anything in or out," Franulovich notes. However, AUD/USD seems better-placed than previous forays toward the higher side of its January-April range of 0.6400-0.6650, even with the RBA not fully meeting hawkish expectations, Franulovich adds. AUD/USD is 0.1% lower at 0.6613. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

May 07, 2024 01:35 ET (05:35 GMT)

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However, AUD/USD seems better-placed than previous forays toward the higher side of its January-April range of 0.6400-0.6650, even with the RBA not fully meeting hawkish expectations, Franulovich adds. AUD/USD is 0.1% lower at 0.6613. 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