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AUD / USD on bids around 0.6935, all eyes on RBA's Lowe



  • Aussie buyers pay less attention to the US and China trade channels prior to a speech by RBA's Lowe.
  • The broad USD weakness continues to play positive for commodity-linked currencies.

The United States and China continue to remain at loggerheads, but the AUD / USD pair seems to show less attention to the deadlock as it takes the rounds to 0.6935 in the middle of the first Asian session on Monday. Trade customers are now awaiting a speech from RBA's fresh impulse governor.

The Aussie couple have benefited from the US dollar (USD) wide weakness over the past week, while the lesser attention shows the differences between the world's two largest economies, indicating a major economic threat.

The reason may be the US Federal Reserve's lazy appearance and market fatigue against the risk factor.

Recent headlines on the trade front are negative, which in turn highlights the risk of another failed negotiation between the United States and China when they meet next to the G20.

China's Global Times signaled that pulling the nation will put US-based leading courier delivery firm FedEx on its unreliable unit list while Bloomberg came out with the quote Chinese state media says China will fight trade war to the end .

Continue going to speak from Reserve Bank of Australia's (RBA) Governor Philip Lowe to getting market attention from Aussie merchants. In his latest appearance, Mr. Lowe's expectations for another rate cut from the Australian central bank.

Technical Analysis

A sustained pause on May 31

high of about 0.6945 becomes necessary for the couple to aim for 50 days of simple motion average (SMA) level of 0.6970 and 0.7000 mark afterwards, if not, which can withdraw the quote to 0.6900 and then to 0.6860 support levels.


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