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Jan 19 - 05:55 PM

AUD/USD - Pares Losses As USD Weakens But Risk Aversion Caps

By Krishna K  —  Jan 19 - 05:05 PM
  • AUD/USD trades with an offered tone in Asia after closing 0.4% lower Thu

  • Recession fears induced by gloomy Australian and U.S. economic data weigh

  • Hawkish tone from Fed officials weighs on risk sentiment, undermines AUD

  • AUD pares losses, recovers from o/n 0.6872 low as USD weakens broadly

  • Focus remains on AUD/JPY as Fri Japan CPI will be pivotal for BOJ policy

  • China loan prime rate (LPR) Fri also key for direction, no change expected

  • Lunar NY holidays in many Asian centres next week may affect trading volumes

  • Support 0.6890-95, stronger at 0.6860-70, resistance 0.6945-50, 0.6975-80

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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