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Aug 01 - 06:55 AM

AUD/USD - Rises To New Six-Week High Before RBA Rate Hike

By Rob Howard  —  Aug 01 - 05:10 AM
  • AUD/USD rises to 0.7036 pre-RBA event risk at 0430 GMT: 50 bps hike expected

  • See: nL4N2ZD08U. 0.7036 is high since June 17 (0.7032 was Friday's peak)

  • Higher commodity prices underpin risk-sensitive AUD nL1N2ZD0C9nL1N2ZD09R

  • 0.7000 (Asia high) is now a support point. 0.6969 was Asia low nL1N2ZD056

  • Australia considers curbing gas exports to avert domestic supply crunch

  • See: nL1N2ZC0G3. 0.7051 was June 17 high (0.7053 = 61.8% of 0.7282-0.6683)

Source:
Refinitiv IFR Research/Market Commentary

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