By Christopher Romano — Sep 06 - 01:45 PM
NY opened near 0.6735 after a tight range traded in the overnight session
Pair spiked up to 0.67675 after Aug payroll as yields US2YT=RR, US$ fell
Rally reversed though as probability Fed would cut 50bps in Sept dropped
Remarks from Williams, Waller, Goolsbee didn't indicate 50bps cut is due
Risk soured; stocks ESv1, commodities XAU=HGv1 fell, USD/CNH rallied
Yen buys sank AUD/JPY toward 94.80; US yields remains lower on the session
AUD/USD fell below the 10- & 21-DMAs and pierced the 55-DMA, hit 0.6660
Daily bearish engulfing formed, reinforced bearish signals from falling RSIs
China Aug. PPI, CPI & trade balance are data risks to begin next week
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Source:
Refinitiv IFR Research/Market Commentary