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USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

AUDUSD TECHS

Bullish Theme

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The Reserve Bank of Australia maintained policy settings as expected and said it will wait until July to consider any extension of its QE program and its yield target to government bonds maturing in November 2024.

The bank held the official rate steady at the historic low of 0.10%, maintained its AUD200 billion bond purchase program and the parameters of its term funding facility for commercial banks.

The central bank currently targets a yield of 0.10% on three-year government bonds maturing in April 2024. The bank said that while it will consider extending the program to November 2024 bonds it was not considering any change to the yield target. The RBA said it would also consider further bond purchases under the QE program in July.