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May 27 - 06:55 AM

AUD/USD - Helped To Three-Week Peak By Iron Ore Strength

By Rob Howard  —  May 27 - 05:15 AM
  • AUD/USD rises to 0.7149 (new three-week high) after iron ore closes up 4.4%

  • See: nL2N2XJ08X. Iron ore is Australia's biggest export earner

  • Risk-sensitive AUD also buoyed by equity gains nL3N2XJ152nL5N2XJ14H

  • Solid retail sales data is another source of support for AUD nL2N2XJ01V

  • AUD/USD might extend north if U.S. core PCE comes in sub-4.9% YY at 1230 GMT

  • See: nL2N2XI0ED. 0.7200 is among bull targets (0.7267 was May 5 high)

AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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