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Forex Flash: AUD/USD strategy profile – Westpac

The data calendar turns very quiet but there is always interest in the minutes from the RBA Board meeting (Tuesday). This is also the day we hear speeches from RBA’s Debelle and Lowe. The RBA’s general tone should remain cautious, maintaining an easing bias.

According to the Westpac Strategy Team, “There seems little chance Australian employment really jumped by 72K last month, through the statistical noise, the data flow has picked up somewhat, providing a handy jolt to the AUD/USD and on crosses. Yet USD bulls seem too powerful near-term for the AUD/USD to sustain a break of the 100-day MA at 1.0404.”

Ultimately, “The pair should trade the upper end of a 1.02-1.0400 range for now. However, the AUD should be well supported on crosses such as NZD, CAD, JPY and especially EUR, less so versus GBP, after its huge rally.”

Forex: GBP/USD peaks at 1.5038

The GBP/USD grew stronger after the US data load, from just above the opening price of 1.4923, and shot up above the 1.5000 mark to peak at 1.5038 on US money. The market is currently consolidating its position above the psychological level, quoting around 1.5015 as of writing.
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Forex Flash: Current US yields are unusual, but justified – Goldman Sachs

As the market looks to the prospect of a more ‘normal’ recovery, the question of when and how quickly US government yields might rise is now sharply in focus. Current bond yield levels are unusual, but not unjustified. The extreme economic circumstances of the past few years and unprecedented central bank responses explain why yields have been where they have been.
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