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Aug 14 - 02:55 AM

AUD/USD - Under Pressure From More Negative China News

By Krishna K  —  Aug 14 - 02:25 AM
  • AUD/USD offered in early Asia after closing 0.25% lower on Friday

  • Weekend news on China's Country Garden, Zhongrong Trust adds to bearish mood

  • Unease over Chinese economy, tepid risk appetite continue to undermine AUD

  • Weighed down by higher U.S yields as producer prices rise more than expected

  • U.S.10-yr yield up 8 bps in New York; Treasury supply concerns also a factor

  • Shrinking Australia-U.S yield differentials, lower metals prices take a toll

  • Test of 2023 low at 0.6459 imminent, break opens ratchet to 0.6390-0.6400

  • Resistance 0.6535-40, 0.6560, key 0.6610-20; Fri range 0.6533-0.6486

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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