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Jan 05 - 07:55 AM

AUD/USD - Helped To Two-Day High By Iron Ore Gains

By Rob Howard  —  Jan 05 - 06:25 AM
  • AUD/USD climb to 0.7254 (two-day high) influenced by iron ore gains

  • See: nL1N2TL0BU. Iron ore is Australia's single biggest export earner

  • Offers may emerge near 0.7272-77 (recent highs) if AUD/USD extends north

  • 0.7277 was six-week peak on Dec 31 after AUD shorts squeezed

  • IMM gross AUD shorts continued to dwarf gross AUD longs in week ended Dec 28

  • 98,626 contracts vs 16,885 nL1N2TJ1NO. US ADP jobs data 1315 GMT, 400k f/c

AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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