By Christopher Romano — Nov 07 - 02:15 PM
NY opened near 0.6630 after 0.6565 traded in Asia, rally extended 0.66875
US yield US2YT=RR drops drove broad based US$ selling, lifted AUD/USD
USD/CNH drop to 7.1420 & equity ESv1 gains reinforced US$ selling theme
Commodity HGv1, XAU= gains helped to buoy the Australian dollar
Pair slipped off the high, sat near 0.6670 into the Fed statement
Fed cut by 25bps , US$ firmed after statement, AUD/USD dipped below 0.6660
Pair remained up +1.37% which helped technicals lean bullish
RSIs imply upward momentum & AUD/USD held above 21-DMA, daily cloud base
November University of Michigan survey is a key data risk Friday
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary