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Jul 13 - 06:55 AM

AUD/USD - Better Bid But Potential Blunted By Commodities Fall

By Peter Stoneham  —  Jul 13 - 04:50 AM
  • Set for a second day of gains as market position adjusts ahead of U.S. data

  • U.S. inflation numbers (12:30GMT) are holding the market to ransom

  • Fears for global growth still applying the brakes to any AUD recovery

  • Commodities mixed but copper hits a 20-month low nL1N2YU0E1

  • On-going concerns for China's COVID position weighing heavy

  • AUD/USD lifts to 0.6785 from Tues 0.6712 bear trend low: eyes channel top

  • Parameters for a daily bear channel are 0.6674-0.6840

  • For the AUD to break higher China would need to relax it COVID restrictions

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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