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Thomson Reuters
Jul 18 - 08:36 AM
AUD/USD - Drop To Two-Week Low Influenced By USD/CNH Strength
First appeared on eFXplus on Jul 18 - 06:25 AM
  • AUD/USD slid to a two-week low of 0.7344 during the European morning
  • Decline influenced by USD/CNH rise to 1-year high nL1N1UE04X nL1N1UE049
  • One of the roles of the AUD is to be a liquid proxy for China sentiment
  • 0.7376 (Tuesday's low) is now a resistance level. 0.7395 was Asia high
  • Tuesday's drop to 0.7376 was fuelled by upbeat testimony from Powell
  • Fed chair speaks again at 1400GMT. Aussie jobs data due Thursday 0130GMT

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