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Sep 11 - 01:55 PM

AUD/USD - Shorts Struggled To Maintain Post-CPI Momentum

By Christopher Romano  —  Sep 11 - 01:25 PM
  • AUD/USD rallied to 0.6674 in early NY then fell sharply, 0.6622 traded

  • US yields US2YT=RR,US$ rallied & risk soured after Aug. CPI report

  • AUD/JPY fall near 93.60, stock ESv1 & gold XAU= drops weighed on AUD/USD

  • USD/CNH rally toward 7.1350 & VIX gains helped fuel risk-off sentiment

  • Risk-off sentiment eroded however; US yields, US$ slid; stock, gold bounced

  • AUD/USD turned positive, sat above 0.6660 late, traded up +0.12%

  • Daily techs warn shorts; RSI diverged, bull hammer candle formed

  • US weekly & continuing claims, Aug. PPI are key data risks for Thursday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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