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Aug 21 - 03:55 PM

AUD/USD - Yen Strength, Weak Dollar Put Bulls And Bears In A Battle

By Christopher Romano  —  Aug 21 - 02:10 PM
  • NY opened near 0.6735 after 0.6752-0.6732 traded overnight

  • Tight range held in early NY as due to balanced risks

  • Commodity HGv1DCIOc2, equity ESv1 gains helped limit the downside

  • USD/CNH gains & firmed US yields US2YT=RR kept the upside limited

  • Yields, US$ sank however, BLS preliminary benchmark NFP revision weighed

  • AUD/USD rallied to 0.67565, a 1-1/2-month high, sellers emerged though

  • Yen buying drove AUD/JPY down toward 97.80, AUD/USD turned lower

  • AUD/USD neared 0.6740 the rallied toward 0.6750 into Fed minutes release

  • The pair turned slightly positive, was up +0.07% late

  • Daily, monthly bulls hammers are encouraging signs for AUD/USD longs

  • Australia Aug. Judo Bank mfg, services, composite PMIs are risks in Asia

  • US weekly claims, Aug. S&P Global PMIs are data risk in NY Thursday

  • Fed's Powell's speech at Jackson Hole Friday is a major looming risk

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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