- AUD / USD falls modestly on Monday after strong rally on Friday.
- The dollar is advancing on all fronts, but is a long way from last week’s highs.
AUD / USD rose sharply on Friday as the dollar collapsed in the market, and after US labor market figures in the European session on Monday the pair climbed to 0.7681, the highest level in a week earlier. backing up to the 0.7650 area.
The dollar seeks support
The dollar it is rising modestly on almost all fronts after Friday’s steep decline. The dollar had a negative tone that intensified after the employment data. The dollar index on Monday rises 0.15% and operates at 91.18, after having bottomed at 90.95.
The rebound of the greenback is supported particularly by the advance of the yields of Treasury bonds. The 10-year rate reached 1.20%, the highest level in 11 months. On the other hand, a modest rise in the stock markets and in the price of commodities, limits the advance of the dollar.
This week the lunar new year in asia so the markets in China will be closed from February 11 and in other stock markets in the region.
Another factor to follow closely these days will be the tensions between China and Australia. The latest event was a formal arrest of an Australian television host on charges of espionage in China.
Technical levels to take into account
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