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Jun 24 - 01:55 AM

AUD/USD - Tepid Risk Appetite, Soft Commodities Weigh

By Krishna K  —  Jun 23 - 11:35 PM
  • AUD/USD -0.1% in Asia as weak Asian stock markets, soft commodities weigh

  • ASX 200 -0.75%, Shanghai Comp -1%, Hang Seng -1.2% on weak China sentiment

  • Dalian iron-ore falls 3%, NYK copper hovers near a 8-week low

  • Weak JPY & CNY undermine Aussie; offshore yuan falls to more than 7-mth low

  • But AUD bid on crosses as RBA rate stance diverges from other major c.banks

  • AUD/JPY rallies to 16 1/2-year high on persistent carry demand

  • Australia CPI Wednesday and U.S. price data Friday key for rate expectations

  • Aussie resistance 0.6650-55, 0.6675-80, support 0.6625-30, 0.6600-05

  • Trade a broad 0.6580-0.6710 band; Asia range 0.6641-0.66265

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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