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Oct 12 - 01:55 PM

AUD/USD - Indecision Sets In Ahead Of US CPI

By Christopher Romano  —  Oct 12 - 01:25 PM
  • AUD/USD rallied to 0.62885 overnight, NY opened near 0.6265, drop extended

  • Above estimate US Sept. PPI nL1N31C20D buoyed US rates and the US$

  • AUD/USD hit a fresh 2-1/2-year low of 0.62355 but neared 0.6270 late

  • USD/CNH fall below 7.1800 after nearing 7.1915 helped AUD/USD bounce

  • Equity ESv1 gains & stall in US$ buying also helped lift AUD/USD

  • Daily doji candle formed, suggests either pause in down trend or reversal

  • US Sept. CPI risk looms, an upside surprise should weigh on AUD/USD

  • Above estimate CPI likely sees higher terminal Fed rate EDH3 priced in

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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