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Apr 17 - 08:55 PM

AUD/USD - Opens Slightly Lower Ahead Of Key China Data

By John Noonan  —  Apr 17 - 07:15 PM
  • AUD/USD opens -0.12% after rise in US yields sent USD broadly higher nL1N36K27N

  • AUD outperformed - gaining around 0.35% against the EUR and JPY

  • China Q1 GDP out today along with China March retail sales and IP

  • Market expected in China GDP +2.2% Q/Q and +4.0% Y/Y

  • A result outside expectations will likely impact commodities and AUD

  • RBA minutes are also out today, but unlikely to surprise and move markets

  • AUD/USD opens just above the 10 & 21-day MAs that converge at 0.6695/0.6700

  • Support is at last week's low at 0.6619 with bids eyed around 0.6680

  • Resistance is at the 100-day MA at 0.6800 with sellers ahead of 0.6750

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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