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May 13 - 03:55 PM

AUD/USD - Inflation Report, Risk Shift Help Erode Some Gains

By Christopher Romano  —  May 13 - 01:35 PM
  • NY opened near 0.6610 after 0.6586 traded overnight, rally extended early

  • Pair hit 0.6629 with help from commodity HGv1DCIOc2, equity ESv1 gains

  • Risk softened after NY Fed report showed Americans expect higher inflation

  • US yields US2YT=RR firmed, equities fell & USD/CNH rallied toward 7.2400

  • AUD/USD briefly turned lower, hit 0.6602 then sat near flat late in the day

  • Daily doji formed, implies indecision; monthly techs remain bullish though

  • US April PPI, remarks from Fed's Powell, Cook may impact risk Tuesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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