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AUD/USD edges lower on the renewed demand around 0.6618 on Tuesday. FOMC Chair Powell said that the Fed would not hesitate to raise the interest rates again if necessary The RBA is expected to keep its cash rate at 4.35. RBA interest rate decision and the Services PMI will be the closely watched events on Tuesday.
The Australian services sector sees additional declines after markets were hoping for a steady reading. Australian Services PMI declined to 46.0 versus the forecast 46.3. Judo Bank Service Purchasing Managers' Index (PMI) figures for November missed market expectations at a steady reading of 46.3, in-line with October's print, declining to an even 46.0 print.
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