Analysts at ANZ explained the recent conditions surrounding AUD/USD.
Key Quotes:
"The AUD/USD came under pressure overnight as commodity prices tumbled. Oil made fresh cyclical lows, dragging down the commodity complex. Chinese exports, and US data (small business optimism and JOLTS job openings) were also weaker than expected.
US data will be light overnight. The Fed is in blackout ahead of next week’s FOMC meeting. Commodity swings are likely to be the key driver today."
Key Quotes:
"The AUD/USD came under pressure overnight as commodity prices tumbled. Oil made fresh cyclical lows, dragging down the commodity complex. Chinese exports, and US data (small business optimism and JOLTS job openings) were also weaker than expected.
US data will be light overnight. The Fed is in blackout ahead of next week’s FOMC meeting. Commodity swings are likely to be the key driver today."
