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The AUD was the outperformer overnight, in...>

AUSSIE: The AUD was the outperformer overnight, in the wake of a strong Aussie
labour market report, with the big headline beat driven by full time jobs and a
tick up in the participation rate observed. However, AUD/USD's initial
resistance, the July 16 high ($0.7442), is seemingly limiting further AUD
follow-through for the time being, after U.S. 10-Year yields breached their
month-to-date high, adding a layer of support to the USD, limiting its losses
- AUD/USD last deals at 0.7415, after registering a high of $0.7441 in the wake
of the labour market report, as mentioned initial resistance comes in the form
of the July 16 high ($0.7442), followed by hourly support from July 10
($0.7459). To the downside, support comes in at the Bollinger band base
($0.7331), followed by the YtD low ($0.7311).
- Participants now look to next week's AU CPI release for the next key domestic
risk event for the AUD.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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