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May 13 - 02:36 PM

AUD/USD - Familiar Turf Tread On, Yen Buys Stem Gains

By Christopher Romano  —  May 12 - 02:25 PM
  • Upbeat risk drives reversal of losses in Asia trade nL1N2CU0NC

  • US Apr inflation as expected but core below f/c, US$ & rates soften

  • Equities ESv1 & AUD/JPY rally, help lift AUD/USD to 0.6535 high

  • Risk sours, AUD/JPY falls from 70.1 resistance, goes negative on day

  • UST yields fall & equities turn -ve, AUD/USD slides near 0.6480

  • Consolidation of Mar-Apr rally is bullish but 0.6570 resistance remains

  • AUD/USD bulls need persistent risk-on, weaker US$ if rally is to resume












aud/usd IMAGE Click here

Source:
Refinitiv IFR Research/Market Commentary

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