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Thomson Reuters
Mar 01 - 02:36 PM
AUD/USD - Rally Hits A Brick Wall
First appeared on eFXplus on Mar 01 - 12:20 PM
  • Gains from Europe's morning erased, new short-term low set in NY
  • Broad based USD bid negates effect of China PMI beat & AUD/JPY gains
  • Equity, copper & oil slides from intra-day highs adds weight to AUD/USD
  • Fed's patient stance in doubt, Eurodollar & fed fund lessen odds of Fed cut
  • Australia 3-mo bank bills market still pricing in RBA rate cuts
  • AUD/USD near Feb low & daily cloud, if cleared 0.6980/90 is targeted

chart: Click here

Source:
Thomson Reuters IFR Markets

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