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ACGB Demand Supporting


AUD/USD looks above $0.7200, with the most marginal round of risk positive flows witnessed within G10 FX. A swelling orderbook for the new ACGB Nov '31 syndication is likely providing some background demand for AUD (contacts point to a record bookbuild for an ACGB syndication), owing to expected demand from abroad, with the details of the allocation set to be published tomorrow after pricing later today.

  • The Aug 21 high at $0.7216 provides the initial line of resistance. A break there would switch focus to the cycle high at $0.7276.
  • Q2 completed construction work headlines the local docket today.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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