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Aug 10 - 08:55 AM

AUD/USD - Shorts Loosen Their Grip As US CPI, Claims In Focus

By Christopher Romano  —  Aug 10 - 07:20 AM
  • AUD/USD rallied 0.6528-0.6563 overnight, NY opened near 0.6560

  • Rally then extended, pair hit 0.6568 as riskier assets were buoyed

  • USD/CNH slid below 7.2190, stocks ESv1 & iron-ore DCIOc2 gained

  • Softer US Treasury yields US2YT=RR helped weigh on the US$

  • Techs are mixed; Daily RSI is rising but monthly is falling

  • Hold below 10-DMA & trend line off 2022 low are bearish signs

  • AUD/USD longs likely need above 0.6610/20 to gain greater control

  • US July CPI and weekly claims are key risks Thursday morning

  • Comments from Fed's Bostic, Harker may have an impact on risk

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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