US10Y are back above 4% and pulling the USD with it, unlike the rest
of the market that is being left in its wake.
In FX, we are seeing USD as the strongest currency on the day and AUD lagging at 1.55%
down as risk sentiment sours and potential month flows out of the way.
The early hours of the morning the RBA did as the majority of the market expected a 25bps raise. However the negative data and risk sentiment are definitely weighing on the currency.
Yesterday’s chart of AUDUSD played out perfectly and is still running…
The news we had been waiting for today from the US has missed on both fronts, not by a significant amount – but will this add top the sour risk sentiment ?
We could see more USD strength on the back of it.
Tip from our analyst: A key price to watch on gold would the low on Thursday $1944.
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