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TDUX
Aug 31 - 10:55 PM

AUD/USD - Drifts Lower After Short-Lived Spike

By James Connell  —  Aug 31 - 09:38 PM

• AUD/USD -0.2% from Tue morning's 0.71805 high as oil prices continue to rise

• AU Q2 current account -27.2 bln (poll -30.0), Jul building approvals -3.6%

• Renewed U.S.-Iran hostility driving energy prices higher, Brent crude +0.6%

• AUD needs 0.7210 break to resume uptrend, below 0.7100 would encourage bears

• AU Q2 real GDP due Wed, Reuters poll consensus +0.3% q/q, +1.8% y/y

• RBA's Sarah Hunter & Dr James Bishop appear before Senate Committee Thur

• U.S. Aug non-farm payrolls due Fri, Reuters poll consensus +55k

• Range Asia 0.7164-805 support 0.6920 0.6866, resistance 0.7210 0.7277-82
AUD Daily 21/55/100-DMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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