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Aug 02 - 01:55 AM

AUD/USD - Pops Higher As Support Holds But Remains Vulnerable

By Krishna K  —  Aug 01 - 11:40 PM
  • AUD/USD up 0.1% after holding support at 0.6480 for 3rd trading day

  • Resilient despite rampant risk aversion; Nasdaq futures -1.3%, Nikkei -4.9%

  • Disappointing Amazon, Intel earnings and global growth concerns hit risk

  • Fri U.S. NFP key as recession fears surface on signs of a softer labour mkt

  • RBA to hold rates steady on Tue; first cut seen in early 2025-Reuters poll

  • RBA rate stance diverges from major c.banks ( BOJ excepted), supports AUD

  • Support 0.6480, 0.6565, res 0.6520-25, 0.6540-50; Asia range 0.6484-0.6511

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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