Australian Dollar, AUD/USD, Uranium, Bond Yields, Recession – Talking Points
Wednesday’s Asia-Pacific Outlook
The Australian Dollar paced higher against the US Dollar through the New York trading session overnight, benefiting from Tuesday’s Reserve Bank of Australia (RBA) rate decision. A rosy session on Wall Street helped support the risk-sensitive currency as the Dollar fell against most of its peers. The Japanese Yen , however, continued to deteriorate, with USD/JPY hitting a fresh multi-decade high.
Australian bond yields rose following the RBA’s surprise decision as traders ditched bond holdings in preparation for further rate hikes this year. Analysts moved quickly to price in more aggressive rate hike bets for the July RBA meeting. The higher trajectory has some economists concerned that it may trigger a recession as households grapple with high debt levels.Spot uranium prices rose on news that the United States may see a government-led initiative to bolster the country’s […]
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