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Thomson Reuters
Jun 08 - 03:48 PM
AUD/USD - 21-DSMA Stems The Slide Due To EM & Fed Fears
First appeared on eFXplus on Jun 08 - 02:00 PM
  • EM weakness on fears of Fed rate hikes sends AUD broadly lower
  • AUD/USD nears 21-DSMA in early NY as risk is sour in early trade
  • Equities and copper rallies emerge while softer JPY lifts AUD/JPY
  • AUD/USD bounces sharply, climbs toward the 55-DSMA late in the day
  • Fed risk is key for AUD/USD bulls, if EM mkts ignored AUD/USD likely sinks
  • Pair could test May's low on expectation Fed is still set on rate hike path

chart: Click here

Source:
Thomson Reuters IFR Markets

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