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Oct 28 - 02:55 AM

AUD/USD - Holds Ground Despite Risk Aversion And Lower Iron Ore

By Krishna K  —  Oct 28 - 01:00 AM
  • AUD/USD rallies 0.3% in Asia as USD weakens on sagging UST yields

  • US 10-year yield consolidates below 4% after 8bps drop in NYK

  • Fed seen slowing pace of rate hikes in December nL1N31S1G0

  • Risk aversion on tech stock selloff, iron ore decline to cap AUD rallies

  • SGX iron ore crashes below $80/T as economic gloom fans demand fears

  • Focus turns to Nov 1 RBA rate meeting, 25 bps hike expected nL4N31Q0QT

  • Resistance at 0.6500-10, stronger at 0.6540-50, support 0.6430-40, 0.6400-05

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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