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Oct 25 - 06:55 AM

AUD/USD - Offers Above 0.75 Cap After Iron Ore Rebounds

By Rob Howard  —  Oct 25 - 05:29 AM
  • Offers above 0.7500 are keeping a lid on AUD/USD: 0.7505 = intra-day high

  • Rise to 0.7505 influenced by rebound for iron ore and copper prices

  • See: nL1N2RL0B9nL1N2RL0BM. More AUD/USD offers tipped pre-0.7550

  • 0.7546 was 15-week high on Oct 21 (after more AUD shorts were squeezed)

  • IMM speculators cut gross AUD shorts by 11,111 contracts in week to Oct 19

  • This reduced net AUD short to 76,058 vs 89,979 all-time high 2 weeks before

AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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