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Oct 10 - 08:55 AM

AUD/USD - Economic Worries, US Rates Give Shorts The Advantage

By Christopher Romano  —  Oct 10 - 07:40 AM
  • AUD/USD overnight rally limited to 0.6379, pair then hit a 30-month low

  • China PMI nL1N31A0HK, AU service index nS9N2ZT01D indicate weak growth

  • Equities ESv1, commodities HGv1 fall sharply before bouncing

  • US rate EDH3 gains buoy US$ against major & most EM currencies

  • USD/CNH rallied toward 7.1560, AUD/JPY fell toward 91.50 before bouncing

  • AUD/USD hit 0.6288 in Europe, NY opens near 0.6310, pair down -0.82%

  • Techs are bearish; daily, monthly RSIs falling, pair below 10- & 21-DMAs

  • Comments from Fed's Evans, Brainard are event risks during NY trading

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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