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Aug 26 - 08:55 AM

AUD/USD - Dip Bought But Risks Balance Ahead Of Fed's Powell

By Christopher Romano  —  Aug 26 - 07:20 AM
  • AUD/USD fell to 0.9947 overnight then rallied to 0.6986 in Europe

  • Australia yieldAU3YT=RR, equityESv1 drop & USD/CNH gain weigh on AUD/USD

  • Lift aided by commodity HGv1, AUD/JPY gains & US yield US2YT=RR slip

  • AUD/USD opened NY near 0.6975 and between the 21-DMA and daily cloud top

  • A daily bull hammer candle formed, suggests bulls have control

  • US July PCE, August U. Of Michigan sentiment are data risks in NY

  • Fed Chair Powell's remarks at Jackson Hole is the key event risk for the day

  • If Powell is less hawkish than expected US$ should sink & AUD/USD rally

  • For more click on FXBUZ




Source:
Refinitiv IFR Research/Market Commentary

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