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Jun 10 - 03:55 PM

AUD/USD - Safe-Havens Rule As Risk Sours After CPI

By Christopher Romano  —  Jun 10 - 01:35 PM
  • AUD/USD hit 0.7137 in Europe but sellers emerged, NY opened near 0.7120

  • Above estimate US CPI nL1N2XW25Z rallied US rates EDM3US2YT=RR

  • Investors price in a higher terminal rate for the Fed hiking cycle

  • Risk sours; equities ESv1, copper HGv1 fall while US$, yen rally

  • Slower growth concerns drive AUD/JPY down below 94.35, AUD/USD follows

  • Pair broke the 61.8% Fib of 0.6829-0.7282, hit 0.7038 then bounced meagerly

  • Techs are bearish; RSIs dropping, pair below 21-DMA, key Fibo breaks

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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