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Jun 30 - 04:55 PM

AUD/USD - Data, Rates Reaction Give Longs A Life Line

By Christopher Romano  —  Jun 30 - 01:40 PM
  • AUD/USD drifted lower in Europe on risk-off, NY opened near 0.6875

  • EquityESv1, copperHGv1, yieldAU3YT=RR helped weigh on AUD/USD

  • Pair hit 0.68675 in early NY but rallied after US data nL1N2YH162

  • US rate EDM3US10YT=RR drops extended, US$ softened after the data

  • PCE, claims data drove investors to reduce expected terminal Fed rate

  • Month-end U$ demand drove a dip but AUD/USD lifted, near 0.6920 late

  • USD/CNH fell, turned negative and neared 6.6900 to help lift AUD/USD

  • AUD/USD daily RSI diverged on the low, daily bull hammer candle formed

  • China June Caixin mfg PMI, US June ISM mfg PMI are data risks Friday

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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