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Sep 07 - 10:55 PM

AUD/USD - Creeps Higher Despite Weak CNY And Risk Aversion

By Krishna K  —  Sep 07 - 10:15 PM
  • AUD/USD up 0.2% in Asia on pre-weekend position squaring but upside limited

  • CNY drops to 16-yr low despite PBOC's much lower than expected fix, will cap

  • Robust U.S. economic data and economic outperformance weighs on AUD

  • USD stays firm as Fed officials reiterate higher for longer rates view

  • Lower iron ore, copper prices, weak risk sentiment undermine AUD sentiment

  • Traders cautious ahead of China inflation data and G20 leaders summit Sat

  • Support 0.6350-60, 0.6290-0.6300, resistance 0.6400-05, 0.6425-30

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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