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Jan 01 - 10:55 PM

AUD/USD - Claws Back Ground As Risk Rallies, Yuan Fights Back

By Krishna Kumar  —  Jan 01 - 09:41 PM

(Adds chart)

• AUD/USD up 0.35% as Wall Street futures rally, yuan recovers from early fall

• S&P E-Mini +0.2% after an early decline of 0.4%; ASX 200 up 0.25%

• CNY barely unchanged Thursday after weakening to a low of 7.3100

• Bargain hunting buoys Aussie as buyers step in ahead of 0.6170, 2022 low

• Upside limited; possible Fed-RBA rate divergence in 2025 to cap rallies

• Only a rally above resistance at 0.6270 signals an interim low in place

• Interim resistances 0.6230, 0.6250; 0.6170 loss opens drop to 0.6096-0.6100

• Asia range 0.6182-0.6215*

AUD


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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