AUD/USD retreats from above 0.6650 as investors anticipate a neutral RBA policy AUDUSD RBA Fed Employment SEO
arly Asia after the release of the downbeat Australian Employment data. A sheer slowdown has been witnessed in Australian Employment generation as firms are facing pressure due to higher interest rates from the Reserve Bank of Australia .
S&P500 futures have recovered the majority of losses posted in early Asia, portraying a recovery in the risk appetite of the market participants. US equities were heavily bought on Wednesday after US President Joe Biden remained confident about the approval of raising the US debt-ceiling limit. Expectations for a US borrowing cap increase surged after House of Representatives Joseph McCarthy cited that the deal with the White House is doable.
The US Dollar Index is making efforts for climbing above the immediate resistance of 102.90 despite receding fears of a catastrophic US default case. While the 10-year US Treasury yields have dropped sharply below 3.57%.After fresh commentary from US President Joe Biden and House of Representatives Joseph McCarthy, one thing is clear the US debt-ceiling issue will get resolved as it could force US Treasury a default on obligated payments.
However, the important fact out of commentaries is that the default deal is completely off the table. Each member attended US debt-ceiling negotiations and admitted that a raise in US debt-ceiling along with a higher budget deficit due to increased President’s spending initiatives cited it as a disaster. The USD Index would also get under pressure as plenty of US Dollars flush into the economy would trim its appeal firmly.
Cooling down tight labor market conditions is expected to force the Reserve Bank of Australia to return to an unchanged policy stance. Investors should note that RBA
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