# AUD/USD trading soggy as markets ramp up June RBA rate cut bets

> Overnight index swaps are fully priced for the Reserve Bank of Australia to cut its cash rate by 25 basis points to 4.1% by June, after a softer-than-expected Australian CPI report. AUD/USD has traded in a narrow range despite a busy macro calendar.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/32397-aud-usd-trading-soggy-as-markets-ramp-up-june-rba-rate-cut-bets
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Expected RBA easing narrows Australia's yield advantage and tends to weaken the Aussie, which can affect Australian grain and export pricing sentiment. The impact on feed commodity prices is indirect.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- forex.com: https://www.forex.com/en-us/news-and-analysis/aud-usd-trading-soggy-as-markets-ramp-up-june-rba-rate-cut-bets/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.