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Apr 11 - 03:55 PM

AUD/USD - Bid For Riskier Assets Gives Longs A Boost

By Christopher Romano  —  Apr 11 - 01:50 PM
  • AUD/USD traded 0.6510-0.6553 in NY with swings driven by data, Fed speak

  • Early rally ensued after PPI, claims reports & US yields US2YT=RR softened

  • Pair slid back to NY lows with help from Fed rhetoric on rate cuts

  • Riskier assets then caught a bid as US$ softened; USD/CNH fell below 7.2545

  • Stock ESv1, gold XAU= rallies helped weigh down US$ a bit

  • AUD/USD traded above 0.6535 late, traded up +0.36% in NY's afternoon

  • Techs mixed a bit; RSIs rising but pair below slew of daily MAs, daily cloud

  • Monthly inverted hammer candles are likely concerns for AUD/USD longs

  • China March exports/imports, trade balance are data risks in Asia

  • US export/import prices, April U of Michigan are data risks in NY

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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