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Forex: AUD/USD peaks at 1.0328 high

FXstreet.com (Barcelona) - The AUD/USD is trading higher on Thursday, boosted since early Asian session despite the public holiday in Australia (ANZAC day, also in New Zealand). The cross moved above the 1.0300 handle and, after consolidating its position, it peaked at 1.0328 high.

The FX market is quiet today but the USD side will have US jobless claims data and Kansas Fed manufacturing index to trade to. “Markets are looking for weekly jobless claims to remain more or less unchanged at 352K this week”, wrote TD Securities analyst Annette Beacher.

“This (1.0216/04) has held the initial test (we note the hammer charted a couple of days ago) and this is also considered to be the last defense for the 1.0116 recent low”, wrote Commerzbank analyst Karen Jones, adding that the market is directly offered below its 200 day ma at 1.0397 and initial resistance lies at 1.0358, the high charted on Friday 19th April.

Forex Flash: AUD/USD directly offered and targeting 0.9845/38 – Commerzbank

The AUD/USD is recovering just ahead of initial support at 1.0216/04 (78.6% retracement and the 11th March low) after the selloff. “This has held the initial test (we note the hammer charted a couple of days ago) and this is also considered to be the last defense for the 1.0116 recent low”, wrote analyst Karen Jones, adding that the market is directly offered below its 200 day ma at 1.0397 and initial resistance lies at 1.0358, the high charted on Friday 19th April. “While capped here, the market will remain directly offered”.
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Forex Flash: Waxing nostalgic to 1994 with 10-year treasuries? – Goldman Sachs

According to the Economics Research Team at Goldman Sachs, “Weaker data have pushed US 10-year yields below 2% again, but we expect a gradual rise through the year and there is a risk that they may rise faster.” After years of falling yields and flat policy rates, a natural concern is whether an increase in rates would be painful for global markets and the economy. 1994 is the poster-child for such concerns, a year in which the Fed surprised markets by hiking rates, and a parallel shift higher in the curve caused severe stresses in places with leveraged duration exposure.
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