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Stabilisation in commodity, US stock futures bode well for AUD/USD longs
sentiment towards the outlook for the Chinese economy and investor risk appetite, especially towards big tech. Should it decline again on Friday, it will be the equal-longest losing streak in decades. But I’m not sure we’ll see a new record set. Given its strong correlation with commodities such as copper, iron ore and crude oil over the past fortnight, along with US equity index futures, the stabilisation in those markets overnight suggests we may see profit taking in Aussie to close the trading week. AUD/USD a proxy for risk appetite This chart shows the rolling 10-day correlation between AUD/USD with SGX iron ... (full story)
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- Posted: Jul 25, 2024 10:06pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,459
