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Feb 02 - 11:55 PM

AUD/USD - Heavy As Caution Dominates Into Volatile U.S. Jobs

By Andrew M Spencer  —  Feb 02 - 10:20 PM

  • -0.3% as risk sours in Asia - E-mini S&P -0.6%, Nasdaq futures -1.6%

  • Regional stocks are mixed - market nervous ahead of often volatile U.S. jobs

  • Poll - RBA to hike 25bp on Tuesday and rates to peak at 3.6% in Q1 for 2023

  • As we learnt from 2022, there will likely be major economic surprises ahead

  • AUD trades at the base of a 0.7080-0.7047 range with solid flow on D3

  • Charts; momentum studies flat line, 21 day Bollinger bands contract

  • 10 & 21 daily, weekly MAs climb - positive setup while 0.7003 21 DMA holds

  • Asian 0.7080 high and 0.7003 21 DMA are initial support and resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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