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AUD/USD Remains Close To 200-Day EMA, RBA Lowe Testimony In Focus Today

AUD

AUD/USD was mostly on the back foot post the Asia close. After rising into the 0.6935/40 region, we pulled almost 100pips lower to 0.6840, before support emerged. We currently track around 0.6875/80, which leaves the pair 0.40% lower for Thursday's session. The rest of the G10 were lower against the USD, except for the yen.

  • US yields mostly pushed higher amid hawkish Fed rhetoric, while data was mixed. The 10yr yield is back near 3.87%, close to YTD highs. Equities were weaker in US trade as well.
  • For AUD/USD we breached the 200-day EMA through Thursday trade (0.6865), but currently track just above this level. A move lower opens up the 100-day EMA 0.6830.
  • Today the focus will be on RBA' Lowe's appearance before the House Of Representatives Economic Committee. This follows Wednesday's appearance before the Senate. This link should show the live video stream, which kicks off at 09:30am AEST (10:30pm BST).
  • Lowe is also likely to make prepared remarks at the start of the hearing.
  • In the commodity space, base metals recovered, +1%, while the aggregate Bloomberg index was around flat.
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