S&P on Australia:

  • It is possible, but not certain, that the Australian economy can manage a "soft landing" with inflation decreasing to the RBA’s target range.
  • The key risk is that inflation in Australia is more sticky than expected and the RBA has to hike interest rates more strongly.
  • We expect continued expansion in 2023 and 2024 and unemployment to rise moderately.
  • If the rise in Australian unemployment rate can be limited to around one percentage point, economic & financial fallout should remain manageable.

The AUDUSD has moved higher and above the 100 hour MA at 0.6553, and to a high of 0.6563, but has rotated back to the 100 hour MA. Can the buyers hold the MA line now?

AUDUSD