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Flash: RBA expected to hold rates in June - DBS Group

FXstreet.com (Barcelona) - DBS Group analysts note that the Reserve Bank of Australia (RBA) is expected to keep its cash target rate unchanged at 2.75% on June 4.

They comment that at the last meeting on May 7, the central bank surprised with a 25 bps rate cut, which subsequently brought AUD/USD below 1.02 to a low of 0.9526 on May 29. Externally, a recovery from here in the Oz will depend on USD/JPY pulling below 100, and the US dollar losing its strength from Fed tapering expectations, and more importantly, better-than expected Chinese data.

EUR/USD upside capped at 1.3045

Earlier today during European trading, the EUR/USD traded in the heights of 1.3045 (session high), which capped any such movement higher, culminating in a general easing of the pair.
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Flash: ISM main US data focus today - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the main main economic data release in the US today will be the ISM manufacturing survey for May which is expected to signal that growth in the sector still remains moderate.
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