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May 28 - 04:55 PM

AUD/USD - US Yield, Dollar Rebounds Drive Erosion Of Gains

By Christopher Romano  —  May 28 - 01:40 PM
  • AUD/USD's overnight rally extended in NY's morning, pair opened near 0.6660

  • Lower US yields US2YT=RR, commodity HGv1XAU= gains helped buoy AUD/USD

  • A 4-session high of 0.667959 traded but sellers emerged & gains eroded

  • Yields, US$ turned upward while stocks ESv1 slid & USD/CNH rallied

  • AUD/USD fell back below the 10-DMA & turned slightly negative on the session

  • Pair sat near 0.6654, traded down -0.001% late in the session

  • Daily gravestone doji formed, is a concern for AUD/USD longs

  • Australia April CPI is a data risk in the Asia session

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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