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Feb 04 - 01:55 PM

AUD/USD - US Yields, Dollar Slump With Help From Jobs Data

By Christopher Romano  —  Feb 04 - 01:22 PM

• NY opened near 0.6205 after 0.6171 traded overnight, rally extended

• Gold , equity rallies helped put downward pressure on US$

• US$ selling intensified as yields turned lower on the session

• December JOLTS data weighed on yields, indicated job market may be softening

• USD/CNH traded below 7.2760 which helped AUD/USD rally to 0.6259

• Pair neared 0.6250 late, traded up +0.40% late in the session

• Lingering US-China trade tensions helped limit gains for AUD/USD

• Techs lean bullish; RSIs rising & pair traded above 21- & 10-DMAs

• Daily & monthly bull hammer candles reinforce the bullish tech signals

• China Jan. Caixin services PMI is a data risk in Asia trading hours

• US Jan. ADP. Dec trade balance, Jan. ISM non-mfg PMI are data risks in NY
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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