Snapshot: AUD/USD trades at 0.7167, down -0.15% intraday, as the RBA’s cautious stance contrasts with a strengthening US dollar. Upbeat copper prices (+2.42%) offer limited support. The key event for today is the 10:00 ET ISM Manufacturing PMI.
- Watch AU 2Y yields at 4.566%; a break higher could signal further Aussie downside.
- Risk: FOMC Member Powell speaks at 20:30 ET; hawkish comments may exacerbate AUD/USD weakness.
Bias into NY: Short AUD/USD towards 0.7140. The RBA’s reluctance to signal rate cuts, as highlighted by Bullock’s “still uneven” inflation progress, is being overshadowed by the DXY’s rise to 99.06. US 10Y yields remain elevated at 4.452%.