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May 11 - 07:55 AM

AUD/USD - Ascends Through 0.70 Before U.S. CPI Data

By Rob Howard  —  May 11 - 06:20 AM
  • AUD/USD rises to 0.7016 as dollar weakens pre-U.S. CPI data at 1230 GMT

  • 0.7016 is highest level since Tuesday's 23-month low of 0.6911

  • U.S. April headline and core CPI are expected to fall to 8.1% and 6% YY

  • See: nL2N2X212EnL2N2X11XQ. USD might ease further if U.S. CPI sub-f/c

  • IMM speculators upped net USD long by 39% in week to May 3 (pre-Fed hike)

  • See: nL2N2X10ML. AUD supported by 5% iron ore price rise nL2N2X30H5

AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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