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Dec 06 - 06:55 AM

AUD/USD - Scales Intra-Day Peak On China RRR Cut News

By Rob Howard  —  Dec 06 - 05:16 AM
  • AUD/USD jumps to 0.7041 (intra-day high) after PBOC cuts RRR by 50 bps

  • See: nL1N2SR0H7. AUD is often used as a liquid proxy for China wagers

  • 0.6995 was Asian session base (pip shy of Friday's 13-month low)

  • RBA monetary policy announcement on Tuesday at 0330 GMT nL1N2SQ0J0

  • IMM speculators cut gross AUD longs and raised AUD shorts in week to Nov 30

  • Combo raised net AUD short to 7-week high of 80,185 contracts nL1N2SO2C7

AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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