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Feb 02 - 01:55 PM

AUD/USD - US Labor Report Gets The Down Trend Back On Track

By Christopher Romano  —  Feb 02 - 01:25 PM
  • 0.6610 traded in early NY just ahead of the January employment report

  • Shocking upside surprise to NFP, AHE indicate robust job mkt, wage inflation

  • US yields US2YT=RR spiked higher, drove broad based US$ gain

  • Probability of a Fed rate cut in March reduced to nearly 20% IRPR

  • AUD/USD fell sharply as USD/CNH rallied to 7.2165 (D3) & gold XAU= dropped

  • AUD/USD dropped below 10- & 200-DMAs, daily cloud base, broke the Feb. 1 low

  • 0.65035 traded, a fresh 3-month low, pair traded down -0.91% late in the day

  • Falling RSIs, daily inverted hammer candle are bearish technical signs

  • US Jan. ISM non-mfg PMI due Mon. Feb. 5, RBA rate decision due Tues. Feb. 6

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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