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Nov 10 - 05:55 PM

AUD/USD - Surges As US Yields Plunge On Inflation Retreat

By Krishna K  —  Nov 10 - 04:50 PM
  • AUD/USD rallies 3% Thursday as US October inflation cools nL1N3252EG

  • US 10-yr yield down 28bps to 5-week low; Fed terminal rate falls to below 5%

  • Wall Street soars on expectations that Fed could slow its tightening pace

  • Buoyant risk appetite, rising commodities and CNH strength boost AUD

  • Aussie shorts cover positions on growing perception that USD has peaked

  • Resistance 0.6650-55, 50% Fibo of Aug-Oct drop & 0.6706, the 100-DMA

  • Support 0.6550-55, 0.6515-25

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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