AUD/USD extends losses on fresh COVID lockdown concerns - johnsonthoures
AUD/USD, a musical proxy for risk, retreated for a second straight day happening Tuesday due to dull investor risk appetite amid concerns over revived coronavirus-paternal lockdowns across parts of the country. A stronger US Dollar also weighed.
"The Aussie fell sharply overnight … after Bean Town Fed president Eric Rosengren raised the spectre of higher interest rates to carry off the rapid gains seen in the U.S. housing market," Steven Dooley, currency strategist at Western Union Lin Solutions, was quoted atomic number 3 saying aside Reuters.
"Spell Fed officials accept been recently discussing tightening policy, the focus has been happening controlling inflation, rather than managing asset prices. Rosengren's comments saw the conversation open happening a new front causation the U.S. dollar to upgrade," he added.
In an interview with the Financial Multiplication, Eric Rosengren said the US could non afford a "boom and wear off" cycle in the housing market that would disrupt financial stability.
The US Dollar Index was 0.11% stronger along Tuesday at 91.980, while being not far from the June 18th more than than two-month high of 92.405.
Meantime, unweathered COVID-19 outbreaks in Australia and South East Asia induce dampened risk sentiment. Concerns that the Delta variant of the coronavirus could gun trigger major outbreaks throw led to lockdowns in three major Aussi cities and some form of restrictions in several others, which affected nearly 80% of the population.
"Market sentiment is not that cheery initially of this calendar week with news of rising COVID cases, new lockdown measures and fresh travel restrictions pouring cold water on global markets," Ipek Ozkardeskaya, a senior analyst at Swissquote, said.
American Samoa of 8:54 GMT on Tuesday AUD/USD was edging down 0.43% to trade at 0.7532, after sooner touching an intraday deficient at 0.7527. The latter has been its weakest level since June 22nd (0.7494). The star currency pair has retreated 2.57% so far in June, following a 0.26% gain in English hawthorn.
Bond Yield Spread
The ranch betwixt 2-class Aussi and 2-class US bond yields, which reflects the flow of cash in hand in a curtly term, equaled -18.32 fundament points (-0.1832%) as of 8:15 GMT on Tuesday, thrown from -18.1 basis points connected June 28th.
Daily Swivel Levels (traditional method of calculation)
Central Pivot – 0.7574
R1 – 0.7593
R2 – 0.7621
R3 – 0.7640
R4 – 0.7659
S1 – 0.7546
S2 – 0.7527
S3 – 0.7498
S4 – 0.7470
Author: Miroslav Marinoff, a tidings editor at TradingPedia, is engaged with perceptive and reportage on the tendencies in the Foreign Exchange Market and the US Stock Market.
Source: https://www.tradingpedia.com/2021/06/29/forex-market-aud-usd-extends-losses-as-fresh-covid-lockdown-concerns-dampen-risk-sentiment/
Posted by: johnsonthoures.blogspot.com
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