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
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Source:
Refinitiv IFR Research/Market Commentary