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May 20 - 06:55 AM

AUD/USD - Respects Four-Month High Ahead Of RBA Minutes

By Rob Howard  —  May 20 - 04:40 AM
  • AUD/USD met headwind pre-0.6714 after vaulting 0.6701 (Friday's top) in Asia

  • 0.6714 was 4-month high Thursday (before Aussie jobless rate above-forecast)

  • AUD supported by higher iron ore prices (big export earner for Australia)

  • Minutes from the RBA's May 7 meeting will be published on Tuesday

  • AUD fell after RBA kept neutral stance on May 7 - when hawkish hold expected

  • CFTC data showed net AUD short up 20% to 77,171 contracts in week to May 14

Source:
Refinitiv IFR Research/Market Commentary

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