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Jun 18 - 08:36 PM
AUD/USD - Opens Bid As Risk Assets Soar To Offset Dovish RBA
First appeared on eFXplus on Jun 18 - 06:25 PM
  • AUD/USD recovered sharply from 0.6832 as Draghi more dovish than RBA Minutes nECBSINTRA
  • Pair also underpinned by dovish turn in Fed expectations & sinking US yields
  • Risk assets rallied with EM ETF (EEM) up 2.41%; Copper up 2.8%; S&P up 0.97%
  • Move higher spurred by confirmation Trump to meet with Xi
  • AUD/USD resistance at Monday's 0.6884 high with break targeting 0.6905
  • The 38.2 of 0.7025/0.6832 move is at 0.6905 & break suggests bottom in place
  • Asian equity markets should move higher and CNY fix will be in focus

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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