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Jun 02 - 08:55 AM

AUD/USD - Dip Bought; Data, Risk-On Give Longs A Boost

By Christopher Romano  —  Jun 02 - 07:20 AM
  • AUD/USD fell sharply overnight, 0.7141 low hit, buyers emerged

  • Above estimate Australian trade surplus nAZN065606 helps buoy AUD

  • Australian yields YTTc1 gain as RBA hike prospects grow RBAWATCH

  • Buys of China's yuan also buoy, USD/CNH below 6.6800 after nearing 6.7155

  • Equity ESv1, copper HGv1, iron-ore DCIOc2 add to AUD/USD buoyancy

  • Pair lifts above 0.7200 ahead of NY's open, holds near high on US$ sales

  • Techs lean bullish; RSIs rising, daily bull hammer forms, 10-DMA supports

  • US May ADP & weekly claims data in focus; if upbeat US$, US rates may rise

  • For more click on FXBUZ

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Source:
Refinitiv IFR Research/Market Commentary

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