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Sep 07 - 07:55 PM

AUD/USD - Hovers Near 10-Mth Low, Failure To Bounce Concerns

By Krishna K  —  Sep 07 - 06:20 PM
  • AUD/USD subdued in Asia after closing 0.1% lower Thu as USD stays firm

  • Weighed down by robust U.S. economic data, higher-for-longer Fed rates view

  • Deep-rooted concerns on China's economy, CNY closing at 16-yr low undermine

  • Lower iron ore and copper prices, weak risk sentiment likely to cap rallies

  • China state planner says to step up oversight of iron ore market

  • Cautious trading likely ahead of Chinese inflation figures on Saturday

  • Support 0.6350-60, 0.6290-0.6300, resistance 0.6400-05, 0.6425-30

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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