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May 11 - 02:55 AM

AUD/USD - Shrugs Off Weak Stocks, Focuses On Soaring Commodities

By Krishna K  —  May 11 - 01:01 AM
  • AUD/USD unchanged in Asia despite risk aversion; Nikkei -3.3%, ASX 200 -1%

  • Holds near 10-week high Tues, as global commodity prices extended bull run

  • Copper, Dalian iron ore consolidate near record high, support nL4N2MY02T

  • Australia government to hand down an expansionary budget Tues nL4N2MX50F

  • Much smaller-than-feared deficit expected as iron ore, copper prices surge

  • Resistance 0.7860-65, 0.7885-0.7895, support 0.7815-20, 0.7790-0.7800

  • For more click on FXBUZ


China iron ore prices hit record high: Click here

Copper prices hit records: Click here

Source:
Refinitiv IFR Research/Market Commentary

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