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Jul 28 - 08:36 PM
AUD/USD - Starts Eventful Week On A Defensive Note
First appeared on eFXplus on Jul 28 - 05:00 PM
  • AUD/USD dips to 0.6900 in early Sydney, under pressure ahead of risk events
  • RBA's lower for longer stance on AU rates led to sharp 1.87% fall last week
  • Robust US GDP dims hopes of aggressive Fed easing, AU-US yield spreads widen
  • Pivotal week looms with Fed, BOJ, US-China trade talks, AU CPI, retail sales
  • AU core inflation below 2% for past 3 years, well below bottom of RBA target
  • Support 0.6900-03, 0.6891, 76.4% of June-July rally; resistance 0.6930-40

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Refinitiv IFR Research/Market Commentary


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