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Apr 12 - 08:55 AM

AUD/USD - China Trade, US Dollar Trump Commodities

By Christopher Romano  —  Apr 12 - 07:15 AM
  • AUD/USD hit 0.6543, barely pierced the 200-DMA then the pair fell sharply

  • Downside surprise to China March trade fueled econ growth worries, hit risk

  • USD/CNH hit 7.2680 (D3), stocks ESv1 gave back much of Thursday's gains

  • US$ gains on safe-have bid, US yields US10YT=RR fell on the safety bid

  • AUD/USD fell despite commodities DCIOc2HGv1XAU= making solid gains

  • AUD/USD traded 0.6490 in early NY, traded down -0.70% early in the session

  • Techs are bearish; RSIs fall, pair below daily cloud, 10-,21-,55-,200-DMAs

  • Consecutive monthly gravestone doji candles reinforce bearish signals

  • US March exp/imp prices, April U of Michigan survey are data risks in NY

  • Remarks from Fed's Schmid, Bostic, Daly may impact risk during NY hours

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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