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Jan 23 - 01:55 PM

AUD/USD - Trump's Rhetoric Sends Bears Running

By Christopher Romano  —  Jan 23 - 01:12 PM

• NY opened near 0.6265, pair then near 0.6280 but sellers emerged

• US yield gains rallied the US$ soured risk sentiment

• 0.62555 traded just ahead of President Trump speaking to the WEF

• Trump said he would demand interest rates drop immediately

• Yields & US$ fell; USD/CNH fell toward 7.280, traded down -0.01% late

• Stocks & gold turned positive which added weight on US$

• AUD/USD neared 0.6300, pair traded up +0.36% late in the session

• Techs lean bullish; RSIs rising & monthly, daily bull hammers in place

• Hold above the rising 10- & 21-DMAs reinforce bullish technicals

• Australia, EZ, US January PMIs are key data risks Friday
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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