NY opened near 0.6615, pair fell sharply after US April PPI report
Above estimate headline result fueled concerns inflation is hot again
US yields US2YT=RR, US$ rallied sharply, AUD/USD traded 0.6578
Buyers emerged however as yields, US$ softened & risk assets rallied
Significant downward revision to March PPI helped buoy risk
Stocks, gold XAU= rallied while USD/CNH fell to 7.2355
AUD/USD climbed back above the 10-DMA, turned positive, traded 0.66275
Pair traded up +0.17% late in the day and technicals leaned bullish
RSIs rising, pair above slew of daily MAs, consolidation phase persists
US April CPI, retail sales reports are major risks for Wednesday
Below estimate results could send US$ lower and AUD/USD much higher
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