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Oct 30 - 08:55 AM

AUD/USD - Data, Yields, Upbeat Risk Drive Gains

By Christopher Romano  —  Oct 30 - 07:30 AM
  • AUD/USD rallied 0.6333-0.6375 overnight, NY opened near the high, up +0.56%

  • Pair rallied away form the 10-DMA & above the 21-DMA, hit a 3-session high

  • Australia Sept retail sales upside beat, upward revision to prior buoyed AUD

  • 3-yr Australia gov't yields AU3YT=RR hit a 12-year high after sales report

  • Iron-ore DCIOc2, equity ESv1 gains buoyed risk which helped lift AUD/USD

  • USD/CNH fall to 7.3245 on D3 another factor driving buys of riskier assets

  • Rising daily RSI, monthly bull hammer signals give longs some comfort

  • Falling monthly RSI, hold below 55-DMA & daily cloud are concerns for longs

  • China Oct NBS mfg, non-mfg PMIs, Caixin mfg PMI are early-week data risks

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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