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Jun 07 - 01:55 AM

AUD/USD - Nudges Higher As China Trade Data Boosts Sentiment

By Krishna K  —  Jun 07 - 12:00 AM
  • AUD/USD up 0.1% heading into Europe, boosted by China trade data

  • China's May exports pick up pace, top forecast in boost to economic recovery

  • China Jan-May iron ore imports up 7%, positive for Aussie and Australia

  • Pair to trade in 0.6630-0.6680 band within larger 0.6580-0.6700/10 range

  • Supported by drop in US yields this week as Fed rate expectations strengthen

  • Higher-for-longer RBA rate stance diverges from other c.banks, underpins AUD

  • RBA Dep.Gov Andrew Hauser's fireside chat, US May employment report eyed Fri

  • Support 0.6630-35, 0.6600-05, resistance 0.6680-85, 0.6700-10

  • Friday Asia range 0.66635-0.6675

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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