Free Trial

AUD/USD last trades at $0.6862, a touch......>

AUSSIE
AUSSIE: AUD/USD last trades at $0.6862, a touch lower on the day.
- The White House's decision to delay the next round of tariffs on China & a BBG
report suggesting that Beijing may resume buying U.S. agricultural goods
triggered two consecutive upswings in AUD/USD in yesterday's Asia-Pac trade.
Gains were mostly erased in European hours, however, as oil prices slid, while
the ECB deployed a combination of policy easing measures.
- The rate bounced from lows as the market eyed the unresolved nature of ECB
purchase limits on bonds & digested signals of severe fractures among Governing
Board members. Conflicting reports re: U.S. willingness to strike an interim
trade deal with China magnified volatility pre-WMR fix. The rate extended gains
only to dive subsequently. Modest late doors sell-off wiped out most of the
remaining gains and AUD/USD finished just a few pips higher.
- Bulls look to clear the Sep 9 high of $0.6876 before challenging $0.6895/6900,
which represent yesterday's peak/psychological resistance. Conversely, a fall
under the Sep 10 & 11 lows at $0.6849 would expose the 38.2% fibo retracement of
the Jul-Aug slide, which comes in at $0.6832.

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.