By Christopher Romano — Nov 03 - 01:35 PM
AUD/USD opened NY near 0.6440 after rallying slightly in overnight trading
US yields US2YT=RR, US$ fell sharply on Oct payroll, ISM non-mfg PMI data
Data indicated softness in jobs market & wage pressures may be easing
Investors priced in Fed being on hold & also pulling forward 1st rate cut
AUD/USD spiked higher, struck a 2-mo high of 0.6518, traded up +1.18% late
USD/CNH drop to 7.32877, equity ESv1 & copper HGv1 gains buoyed AUD/USD
Techs are bullish; RSIs are rising, pair trades above 55-DMA & cloud base
RBA meeting, Q3 wage price index, Oct employment are data risks next week
China Oct CPI/PPI, retail sales, industrial output are also risks
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary