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Aug 04 - 08:36 PM
AUD/USD - Path Clear For 2019 Low As Risk Mood Deteriorates
First appeared on eFXplus on Aug 04 - 06:25 PM
  • AUD/USD's well entrenched downtrend continues as negatives pile up
  • Undermined by selling of risk assets on escalation of US-China trade feud
  • Trump defends stance on China trade , China vows to fight back
  • Slide in copper, iron-ore, equities weigh; AUD/JPY down 3.5% for the week
  • Markets nervous as USD/CNH nears 7.00; RBA meets Tue, dovish guidance likely
  • 0.6715, 2019 low in view, 0.6760 initial support; resistance 0.6825-35

U.S.-China trade war roils global markets: Click here

Loose cannon - USDCNY on August 2, 2019: Click here

Source:
Refinitiv IFR Research/Market Commentary

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