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Aug 11 - 04:55 PM

AUD/USD - Shorts Scatter After US CPI Data

By Christopher Romano  —  Aug 11 - 01:39 PM
  • AUD/USD drops in Europe am on the back of US$ buying, NY opens near 0.7330

  • Pair lifts near 0.7340 into US July CPI, spikes up after data release

  • Data shows inflation moderates slightly nL1N2PG1LK, US rates & US$ drop

  • US 10-yr yields turns negative, eurodollar, stock, copper prices rally

  • AUD/USD spikes up near 0.7380, consolidates a bit then nears 0.7390

  • Very little pull back seen, pair near the session high late in the day

  • Techs warn shorts, RSIs rise & pair has pierced the 10- & 21-DMAs

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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