Australian dollar grinds to key resistence

Friday 25 June 2021

The forex market was stable last night. Biden stimulus scuttlebutt supported DXY but high commodity prices supported the Australian dollar as well. DXY is holding its gains versus EUR so far:

The Australian dollar is bumping against former support now resistance in the high 0.75s:

Oil was up, gold down:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.