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
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Source:
Refinitiv IFR Research/Market Commentary