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Oct 01 - 03:55 PM

AUD/USD - Bid For Safe-Havens Gives Bears Some Traction

By Christopher Romano  —  Oct 01 - 01:40 PM
  • NY opened near 0.6900 after 0.6943 hit overnight, pair's drop extended

  • Early rally near 0.6915 was sold; firm US yields, US$ weighed on AUD/USD

  • Pair's slide persisted after Sept. US ISM mfg PMI, Aug. JOLTS data

  • Increase in geopolitical tensions fueled a bid for safe-haven assets

  • AUD/JPY, yields US2YT=RR, stocks ESv1 fell while gold XAU= rallied

  • AUD/USD hit a 3-session low, neared the 10-DMA, 0.68575 traded

  • Pair bounced slightly, neared 0.6875; traded down -0.58% late in the day

  • Techs lean bearish; RSIs falling, price drop followed Monday's doji candle

  • US Sept ADP, remarks from slew of Fed speakers are risks Wednesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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