Free Trial

AUD/USD trades flat at $0.7157 at.......>

EURO-DOLLAR
EURO-DOLLAR: AUD/USD trades flat at $0.7157 at writing, after closing 9 pips
lower Monday, as global trade worries weighed on AUD. As a reminder, yesterday
BBG sources reported that Sino-U.S. trade talks entered a deadlock over IP theft
issues. 
- AUD shrugged off the release of the latest ANZ Roy Morgan weekly consumer
confidence print, which saw the index slip to 115.7 from 116.8. 
- Initial support is located at yesterday's low of $0.7140 and a fall below
would draw bearish attention to the 1.0% 10-DMA envelope at $0.7109. Conversely,
bulls need to reclaim $0.7188, where AUD/USD peaked yesterday, before
challenging the psychological $0.7200 level. 
- Australian focus this week falls on the domestic labour mkt report due
Thursday.

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.