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Oct 27 - 03:55 PM

AUD/USD - Gains Erode On Downward Shift In Risk

By Christopher Romano  —  Oct 27 - 01:45 PM
  • NY opened near 0.6340 after 0.6322 hit overnight, rally initially extended

  • Soft US yieldsUS2YT=RR, equity ESv1 & commodity Hgv1 gains buoyed risk

  • AUD/USD rallied above the 21-DMA, hit 0.63675 but then started slipping

  • Yields lifted while stocks fell, USD/CNH rallied back above 7.3300

  • AUD/USD slid below 0.6340 late, still traded up +0.27% late in the day

  • Techs are mixed; daily RSI rising but month is falling, pair below 55-DMA

  • China Oct PMIs, US Oct mfg ISM & payroll report are key data risks next week

  • Fed is the main event risk next week, rates expected to remain unchanged

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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