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May 02 - 08:55 AM

AUD/USD - Improved Risk Puts Shorts On Defense

By Christopher Romano  —  May 02 - 07:25 AM
  • Downbeat China PMIs nL2N2WT01Z drive growth concerns, sinks risk overnight

  • US$ rallied while equities ESv1, copperHGv1 sank; USD/CNH near 6.6900

  • AUD/USD fell to a 3-month low, hit 0.7033 but rallied into +ve territory

  • AU yieldAU3YT gains, US yieldUS2YT=RR drop & US$ sales help buoy AUD/USD

  • Equity turn positive, USD/CNH drop below 6.6650 also help AUD/USD gains

  • Pair nears 0.7080 in early NY trading & some bullish tech signals emerge

  • Daily bull hammer forms, daily & monthly RSIs diverge on the new low

  • RBA risk tonight nL3N2WT0EL, Fed risk comes Wednesday nL2N2WP2TY

  • For more click on FXBUZ

audusd Click here

Source:
Refinitiv IFR Research/Market Commentary

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