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Aug 05 - 12:12 AM
AUD/USD - Trades At 7-Month Low As CNY Slides Past 7.00
First appeared on eFXplus on Aug 04 - 10:30 PM
  • AUD/USD down 0.5% in sympathy with a weakening yuan as China fights back
  • USD/CNY blasts through pivotal 7.00 as US-China trade tensions escalate
  • Leads to risk aversion in Asia as risk/ EM assets sold across board
  • Havens JPY, XAU +0.5%, US-10 year yield hits 1.7890,lowest since Nov 9, 2016
  • Risk barometer AUD/JPY -1% to a new 2019 low; RBA to sound more dovish Tues?
  • 0.6715, 2019 low in view; resistance, 0.6795-0.6800, 0.6825-35

Central bank meetings this week: Click here

Source:
Refinitiv IFR Research/Market Commentary

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