Free Trial

Aud/Usd: European open $0.7544,......>

AUSSIE SUMMARY
AUSSIE SUMMARY: Aud/Usd: European open $0.7544, range $0.7521-47, NY open
$0.7522, range $0.7507-29
* Aussie continued heavy into Europe, initially weighed by sharp falls in gold,
cross supply predominantly in Eur/Aud pressured to near 6-month lows of $0.7521.
* Minor recoveries extended to the $0.7530/35 area but lacked follow through.
The
downside remained in check with demand reported on approach to $0.7500 which
also
holds support from the Jun7 low.
* Recovery efforts held shallow in early NY. Traders suggested barrier interest
in place at $0.7500, a break here is likely to trigger stops, opening a deeper
move toward $0.7457 (Jun6 low).
* The dollar saw a late surge in NY possibly on renewed sense of optimism on US
tax reforms. Aud/Usd declined to session lows of $0.7505 and rate last seen
hovering around $0.7507 at the time of writing.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });