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Dec 03 - 03:55 PM

AUD/USD - Slides To New 2021 Low On Diverging US-AU Rate Expectations

By Paul Spirgel  —  Dec 03 - 01:35 PM
  • AUD/USD ending NorAm by 2021 low at 0.7008, -1.2%; Fri range 0.7095-05

  • AUD/USD slides to new 2021 low despite headline NFP miss nL1N2SO1IE

  • US NFP headline data underwhelms, traders focus on falling US unemp rate

  • Diverging Fed-RBA rate view exacerbates recent weakness, trapped longs exit

  • IMM position as of Nov 23 was net -63k contracts; w/41k long 1232741NNET

  • Dec 7's RBA key for bulls, cont'd RBA dovish stance leads to more weakness

  • Sub-0.70 2020 lows from Nov 2020's 0.6990 to May's 0.6495 come into focus

For more click on FXBUZ


AUD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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