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Jan 18 - 05:55 PM

AUD/USD - Rally Falters On Fed Rates Push Back, Risk Aversion

By Krishna K  —  Jan 18 - 05:15 PM
  • AUD/USD on defensive in Asia after falling 0.7% Wed on rising risk aversion

  • Undermined by weak U.S. economic data which sparked fears of a recession

  • Hawkish comments from Fed officials further weigh on risk sentiment

  • Falling stocks, lower commodities, cross sales versus JPY erode AUD gains

  • AUD/USD dives 1.8% from high of 0.7063 as profits booked on long positions

  • Australia jobs data Thu; employment seen rising 22.5k, jobless rate at 3.4%

  • Support 0.6915-20, 0.6895-0.6900, 0.6860-70; resistance 0.6975-80, 0.7000-05

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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