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AUD/USD dips must be supported round zero.71 – TD Securities

“The ECB’s ‘draw back dangers’ have all been forgotten, as a string of headlines have tugged the USD decrease,” notice TD Securities analysts.

Key quotes

“Up to now few days, GBP has made a convincing break of the important 1.30 stage, underpinned by the in a single day headlines that the DUP would help Might’s plan. This most likely shielded the EUR from one other weak IFO. For the EUR, the query is how a lot shock worth is left from unhealthy information?”

“Constructive Brexit tales ought to assist help broader Europe, particularly if it helps to revive sentiment. We notice that regardless of the ECB, the EUR must be buying and selling north of 1.14. The lingering authorities shutdown would not assist the USD, reflecting partly the lack of progress momentum. Talks of ending the stability sheet runoff bolster the weaker USD theme and maybe ease considerations of tighter USD liquidity.”

“We nonetheless just like the periphery G10 story and notice that AUD, NOK, and CAD all display low cost on our FX progress issue – we like an equally-weighted basket versus the USD. That means AUDUSD dips must be supported round zero.71 and USDCAD may quickly make one other check beneath 1.33.”

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