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Firmer, Recent Ranges Persisting

AUD

AUD/USD prints at $0.6625/30, the pair is ~0.2% firmer today.

  • USD/JPY flows have come to the fore, AUD was marginally pressured as the pair broke ¥145 for the first time since 10 November. The greenback has been pressured as the pair retreats from session highs spilling over into a bid in AUD/USD.
  • Resistance comes in at $0.6663, the low from June 23.
  • May Private Sector Credit printed at 0.4% M/M which was inline with expectations. The Y/Y number was 6.2%.
  • Cross asset wise; e-minis are ~0.1% firmer and US Tsy Yields are flat as is BBDXY. Iron Ore futures are up ~0.1%.
  • Looking ahead, the highlight next week is Tuesday's RBA Monetary Policy decision. The bank is expected to hold rates steady at 4.10%.
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