FX Analysis – AUDUSD and Gold get a boost, JPY spikes on possible intervention.
Lachlan Meakin
7/12/2023
•
0 min read
Share this post
Copy URL
AUDUSD AUD saw gains to come within a whisker of the key 0.64 level, after hawkish leaning commentary from RBA Assistant Governor Kohler, who noted the decline in inflation is more gradual than previously thought. The Aussie also helped by a weaker USD and improved risk sentiment. The 0.64 level will be key in the near term as the mid-point of AUDUSD 3-month trading range is likely to act as resistance and support and will dictate which side of the range AUDUSD will be testing next.
USDJPY USDJPY rose to fresh peaks of 151.92 before a sharp move lower in the cross was observed without any clear catalyst which of course generated suspicions of intervention, especially given the move happened around 10am EDT, where intervention has occurred before. Also adding to the intervention narrative was comments from Japanese Finance Minister Suzuki during the Asian session where he spoke of “undesirable moves in the FX market”. USDJPY fell sharply from 151.92 to 151.19 but did retrace back to 151.70 after the dust settled, if this was a BoJ intervention it seems the 152 level may be the line in the sand and one to watch closely for Yen traders.
XAUUSD Gold rallied on Monday, recouping around half of Fridays losses after finding support at its the Oct lows to highs 38.2 fib retracement level which also matches up with the 200-day SMA. A weaker USD and falling yields also giving gold a boost along with residual safe haven demand.
By
Lachlan Meakin
Head of Research, GO Markets Australia.
本文由 GO Markets 的分析師及撰稿人撰寫，內容基於其獨立分析或個人經驗。文中所表達的觀點、意見或交易風格均屬作者個人，並不代表或反映 GO Markets 的立場。任何提供的建議均屬一般性，並未考慮您的個人目標、財務狀況或需求。在採取任何行動之前，請考慮該建議是否適合您的目標、財務狀況與需求。若該建議涉及購買特定金融產品，請於作出任何決定前，先閱讀我們網站上提供的《產品揭露聲明書》（Disclosure Statement, DS）及其他法律文件。
