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Jun 23 - 08:55 PM

AUD/USD - Pushed Back By Broadly Stronger USD, Lower Commodities

By Krishna K  —  Jun 23 - 07:45 PM
  • AUD/USD starts the week on a cautious note after closing 0.25% lower Friday

  • Weighed down by broad USD strength and robust U.S. economic data

  • Undermined by weak CNY, JPY and lower commodity prices, particularly metals

  • AUD buoyant on crosses; RBA's rate stance diverges from other major c.banks

  • AUD/JPY rallies to 16 1/2-year high on persistent carry trade demand

  • Hits a 1-year high vs EUR as French politics weigh on single currency

  • Australia CPI Wednesday and U.S. price data Friday key for rate expectations

  • Aussie resistance 0.6675-80, 0.6700, support 0.6630-35, 0.6610-15

  • Trade a broad 0.6580-0.6710 range; Friday range 0.66695-0.66405

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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