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Aug 16 - 05:55 PM

AUD/USD - Upward Risk Shift, US Yields Put Bulls On Top

By Christopher Romano  —  Aug 16 - 01:20 PM
  • NY opened near 0.6635 after 0.6608 traded overnight, pair hit 0.66235 early

  • Downbeat US housing data weighed on AUD/UD, stocks ESv1, yields US2YT=RR

  • Slide halted after U of Michigan increased in August; risk-on ensued

  • Yields lifted while stocks turned positive & gold XAU= hit a record high

  • USD/CNH hold below 7.1700 helped rally toward a three week high

  • Pair broke the 55-DMA, Aug. 14 high & July 23 high; traded 0.6659 late

  • Rising daily cloud & RSIs, monthly bull hammer are bullish tech signs

  • Next week investors may focus on global PMIs for Aug. as key risks

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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