Weak Q1 CPI has seen the Australian $ under attack 27 April
AUDUSD has now posted new session/Asian lows of 0.7608 with AUDJPY down to 84.57 and EURAUD up to 1.4850 which is helping provide a little support to EURUSD now back to 1.1300.
HSBC are the latest to call for a rate cut from the RBA next week. Says chief economist Paul Bloxham:
"We retain our view that the RBA is likely to cut by 25bp in Q2,now likely in May, despite the federal budget being on the same day; we now also expect a further 25bp cut in Q3,"
Bids into 0.7600 with more behind at 0.7580-85. Expect sellers now into 0.7630 and 0.7650.
Currently 0.7617
