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USDJPY TECHS

Testing Trendline Support Again

EURGBP TECHS

Attention Is On Resistance

GBPUSD TECHS

Through 1.4000

EUROZONE T-BILL ISSUANCE

Bill Supply For W/C May 10, 2021

EURUSD TECHS

Resumes Its Upleg

EUROSTOXX50 TECHS

(M1) Clears 4000

AUSSIE
AUSSIE: AUD/USD spiked to session highs of $0.7315 (in line with the August 30
high) on Wednesday, on the back of the initial release of the FOMC's statement
that accompanied its latest 25bp hike.
- The Fed's removal of "accommodative" initially pressured the USD, in spite of
the FOMC implementing the widely exp. 25bp hike. Chair Powell was quick to play
down the removal of "accommodative" from the statement, saying this does not
signal a change in pol. Powell reiterated pol is still accommodative & noted
that overall financial conditions remain accommodative. This pushed the cross
back to ~$0.7260, where the rate closed after an additional brief & limited blip
higher during the remainder of Powell's press conference.
- AUD/USD still deals around $0.7260, and remains locked in its downtrend, with
bulls still looking for a close above 50-DMA ($0.7296). Failure to hold above
$0.7200 would bring the YTD low ($0.7085) back into play.
- The AU docket is limited this week, so focus will likely fall on the broader
risk backdrop/USD theme ahead of next week's RBA MonPol decision, AU trade data
& retail sales. It is also worth noting that RBA's Heath will speak next week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com