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AUD/USD: Bearish Trend Still Dominates Ahead of AU Jobs
The price action so far today is emblematic of a textbook “risk off” day: stocks are falling across the globe, oil is trading off by nearly 3%, bond yields are generally retreating, and the yen is the strongest performing major currency (though we would note that gold bugs still can’t seem to catch a break!). One other apparent outlier is the Australian dollar, which is traditionally seen as one of the major currencies that is most sensitive to risk appetite. While it’s hardly setting traders’ heat maps ablaze, the Aussie is holding its ground against currencies that are generally perceived as “safer” ... (full story)