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Apr 25 - 01:55 AM

AUD/USD - Downward Pressure Builds As Risk Aversion Rules

By Krishna K  —  Apr 24 - 11:50 PM
  • AUD/USD drops 0.25% in holiday-thinned Asian markets as risk sentiment sours

  • Opened 0.6693, small uptick to 0.6705 seized on by sellers, Asia low 0.6679

  • S&P E-Mini down 0.2%, Shanghai Composite down 0.3%, Hang Seng declines 1.7%

  • Dalian iron ore at 4 month-low, copper hovers near 2-wk low, undermining AUD

  • Offshore yuan consolidates near weakest level in nearly a month, weighs

  • Australia Q1 CPI due Wednesday, will be pivotal for RBA rate expectations

  • Australia and New Zealand markets closed Tuesday, affecting trading activity

  • Strong support at 0.6665-70, resistance 0.6715-20, 0.6740-45

Source:
Refinitiv IFR Research/Market Commentary

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