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Aug 17 - 03:55 PM

AUD/USD - Price Swings Driven By China's Yuan

By Christopher Romano  —  Aug 17 - 01:35 PM
  • AUD/USD hit 0.63665 overnight, rally ensued, NY opened near 0.6415

  • Report China state banks sold USD/CNH intensified AUD/USD's rally

  • USD/CNH traded down to 7.2984 on D3 but then the selling abated

  • AUD/USD traded 0.6450 as the US$ was sold broadly but sellers did emerge

  • UST yieldUS10YT=RR gains, equity <ESv1 & copperHGv1 slips weighed

  • AUD/USD turned negative, neared 0.6410 & traded down -0.23% late

  • Monthly techs are bearish but a daily doji formed, may concern shorts

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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