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Feb 07 - 08:36 AM

AUD/USD - Longs Are Gasping For Air

By Christopher Romano  —  Feb 07 - 07:40 AM
  • RBA's SOMP cuts GDP forecast to June 2020 to 2.0% from 2.5%

  • SOMP says GDP f/c cut due to bush fires, coronavirus factors

  • Global risk-sentiment down; stocks, bond yields, commodities fall

  • AU-US spreads widen, AUD/JPY falls near 73.20, USD/CNH near 7.0000

  • AUD/USD sets a 4-month low near 2019's 0.6670 low, no bounce seen

  • Options expect slide to extend nL1N2A7072, US jobs report looms

  • Supports below 0.6670 sit at 0.6600, 0.6565/70 and 0.6510/25



chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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