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Aug 03 - 03:55 PM

AUD/USD - US Dollar Bulls Loosened Their Grip

By Christopher Romano  —  Aug 03 - 01:35 PM
  • AUD/USD hit 0.6514 in Europe, NY opened near 0.6530, lift then extended

  • Choppy price action ensued after initial US data dump but new lows not made

  • Downbeat services PMI helped soften US yields US2YT=RR & the US$

  • Equity ESv1, copper HGv1 rallied off the lows & USD/CNH turned negative

  • AUD/USD rallied to 0.65685 in NY's afternoon, traded up +0.32% late

  • Daily RSI diverged & a daily bull hammer formed, are concerns for shorts

  • US July NFP, AHE & their impact on Fed policy are key risks for Friday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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