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Apr 03 - 07:55 AM

AUD/USD - Within Strike Of 0.6500 On Lower Yuan, Iron Ore

By Rob Howard  —  Apr 03 - 05:50 AM
  • AUD/USD eases towards 0.6500 as lower yuan and iron ore prices weigh on AUD

  • The Australian dollar is often used as a liquid proxy for the yuan

  • Iron ore is Australia's biggest export earner. Large 0.6500 expiry Thursday

  • 0.6482 (Monday's four-week low) is an AUD/USD support point below 0.6500

  • Resistance levels include 0.6525 (Asia high) and 0.6559 (last week's high)

  • US ADP jobs data due 1315 GMT; 148k f/c. ISM services 1500 GMT; 52.7 f/c

Source:
Refinitiv IFR Research/Market Commentary

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