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Jan 16 - 11:55 PM

AUD/USD - Holds Steady As Upbeat China Data Staves Off Bears

By Krishna Kumar  —  Jan 16 - 09:44 PM

• AUD/USD unchanged in Asia, trades in a narrow 0.6207-0.6218 range

• Early dip on sales versus JPY fades as AUD/JPY bounces from 1-month low

• China's economic growth surpasses forecasts on stimulus push, lifts AUD

• Buoyant commodity prices support AUD; iron ore rallies to 1-month high

• Traders cautious ahead of Trump's Presidential inauguration Monday

• Chances of RBA Feb rate cut at 68%, likely to cap AUD recovery attempts

• Resistance 0.6230, 0.6250-60, support 0.6190-95, 0.6175
Reuters poll: U.S. Treasury yield outlook January 2025:


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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