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Sep 03 - 03:55 PM

AUD/USD - Early Lift Fades As Safer Assets Sought

By Christopher Romano  —  Sep 03 - 01:40 PM
  • NY opened near 0.6735 after 0.67925 traded overnight, pair lifted early

  • 0.6750 was neared on the back of soft US yield US2YT=RRUS10YT=RR, US$

  • Buying of safe-haven assets helped to erase the pair's early rally however

  • US ISM mfg PMI, July construction reports helped fuel the bid for safety

  • AUD/JPY fell toward 97.65 & stocksESv1, commodities HGv1XAU= also sank

  • US yields remains lower on the session which reinforced the safety trade

  • AUD/USD hit 0.6712, a 7-session low, was down -1.10% late in the session

  • Techs lean bearish; RSIs are falling, pair traded below the 10-DMA

  • China August Caixin manufacturing PMI is a data risk in Asia

  • US July JOLTs, July trade balance, Fed's Beige Book are risks Wednesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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