Free Trial

AUD/USD tracked the gyrations of the yuan....>

AUSSIE
AUSSIE: AUD/USD tracked the gyrations of the yuan crosses once again,
benefitting from a stronger yuan fix by the PBOC before fading as the yuan moved
to worst levels against the USD as the momentum generated on the back of the fix
waned.
- AUD/USD failed to challenge the Bollinger band top/55-DMA ($0.7475) and has
faded, last dealing at $0.7440, from lows of $0.7433.
- Hourly support is noted at 0.7380, in front of Tuesday's low ($0.7360).
- There was no reaction in the AUD crosses to the latest terms of trade data,
which is very rarely a market mover.
- Traders now look to next week's Jun/Q2 retail sales release followed by the
RBA decision on 07 August.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.