By Krishna K — Jul 22 - 11:40 PM
AUD/USD down 0.1% in Asia, fails to recover ground after declining 0.6% Mon
Undermined by concerns over China's economy and sliding prices of metals
Copper hovers at 3-mth low, Dalian iron ore drops 2.6% to 3-mth low in Asia
AUD/JPY selling, weak CNY, China Monday rate cuts weigh on AUD sentiment
Focus turns to data and central bank rate expectations
U.S. advance Q2 GDP Thu, core PCE price index Fri key for Fed policy
Downside likely to be limited as RBA-Fed rate expectations diverge
Tuesday range 0.6633-0.6645; support 0.6630, 100-DMA at 0.6608
Resistance 0.6660-65, 0.6700-05
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Source:
Refinitiv IFR Research/Market Commentary