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Sep 07 - 03:55 PM

AUD/USD - Shorts Gain Traction As Investors Play It Safe

By Christopher Romano  —  Sep 07 - 01:52 PM
  • AUD/USD falls in Europe's am, NY opens near 0.7400, the slide extends

  • US investors return from holiday weekend and they drive risk-off theme

  • Equities ESv1, copper HGv1, iron-ore DCIOc2 trade down on the session

  • USD/CNH rallies towards 6.4650, EM ccys sink on broad based US$ buying

  • US$ rally aided by big gains in the US rate complex US10YT=RREDZ2

  • AUD/USD falls below the daily cloud, pierces the 55-DMA, hits 0.7375

  • Very little bounce is seen, AUD/USD hovers near 0.7390 late in the day

  • Techs are mixed; dailies lean bearish while monthlies remain bullish

  • For more click on FXBUZ

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Source:
Refinitiv IFR Research/Market Commentary

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