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Aug 03 - 06:55 AM

AUD/USD - Vulnerable To More Losses - Options On High Alert

By Richard Pace  —  Aug 03 - 05:45 AM
  • AUD breaks 0.6538 trendline support for 0.6515 so far Thursday

  • Alleged option barrier defence 0.6500 - break risks 31 May/2023 low 0.6459

  • Was a frenzy to buy downside strike FX option protection Wednesday

  • FX option implied volatility and downside strike premium at new recent highs

  • Talk large unwinding of recent AUD longs by RM, model accounts and options

  • Firmer US yields and weaker stocks fuelling the recent AUD/USD descent

  • Focus is firmly on Fridays U.S. jobs data - FX volatility risk premiums high

  • NFP beat can give a further boost to US yields and add more weight to stocks

  • Forward looking options flag FX volatility danger spots nL1N39K0M0

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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