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Antipodeans Pressured

FOREX

The antipodeans have extended losses this morning, the USD is marginally firmer with BBDXY up ~0.1%. US Equity futures have pared gains, e-minis sit ~0.3% firmer having been up as much as 0.6%. To recap early in the session US Equity futures firmed after Nvidia rose 26% after demand for AI buoyed its sales forecast and Fitch placed the US on US on negative ratings watch.

  • NZD/USD is down ~0.3%, the pair has broken below the $0.61 handle. Year to date lows have held thus far.
  • AUD/USD is down ~0.2%, the low from May 24 ($0.6532) has been broken. The next downside support is at $0.6403 76.4% retracement of the Oct-Feb bull cycle.
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