Free Trial

Renewed appetite for riskier FX allowed......>

AUSSIE
AUSSIE: Renewed appetite for riskier FX allowed AUD/USD to recoil late Thursday,
after plunging in Asia hours in reaction to a weak Australian jobs report.
Firmer oil prices and a recovery in U.S. equity markets, led by the financial
sector, pushed the rate slightly above neutral levels, even as U.S.-China
tensions continued to provide a source of worry.
- AUD/USD trades flat at $0.6463. A break above the 100-DMA at $0.6517 would
expose Apr 30 high of $0.6570, a key resistance. Bears look for a drop below May
14 low/50-EMA/round figure at $0.6404/01/00 before targeting May 4 low of
$0.6373, the key near-term support.
- Australia's data docket is empty today, which shifts focus to China and a slew
of its monthly economic indicators.

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.