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Dec 03 - 01:55 AM

AUD/USD - Drifts Towards Support As CNY Weakens Further

By Krishna K  —  Dec 02 - 10:05 PM
  • AUD/USD -0.2% in Asia as offshore yuan hits a more-than-one year low

  • CNY slumps towards 7.3000,lowest since Nov 2023 despite PBOC's firm yuan fix

  • Trump's weekend comments on USD, robust U.S. economy weigh on currencies

  • AUD downside limited as Fed's Waller says he is inclined to cut rates in Dec

  • Odds of Dec 25 bps cut rise to 75%, from 66% late on Fri on CME's FedWatch

  • Australia public spending splurge carries economy in Q3, adds 0.7ppt to GDP

  • Offsets a drag from inventories and a disappointing trade performance

  • Citi Australia revises up estimate for Q3 GDP to 0.7% from 0.2% previously

  • Q3 GDP data on Wed; support 0.6435-45, 0.6400-10, resistance 0.6500, 0.6530

  • Asia range 0.6455-0.6481

  • For more click on FXBUZ

Source:
London Stock Exchange Group | Thomson Reuters

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