AUD/USD eyes to regain 0.7350 as Ukraine crisis propels commodities on supply crunch fears

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AUD/USD eyes to regain 0.7350 as Ukraine crisis propels commodities on supply crunch fears
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AUD/USD eyes to regain 0.7350 as Ukraine crisis propels commodities on supply crunch fears By anilpanchal7 AUDUSD

Aussie pair’s latest rebound could be linked to the firmer commodity prices, as well as recently upbeat sentiment data from home.

It’s worth noting that the escalating fears of a devastating impact on the global supply chain, due to the Ukraine-Russia stand-off recently propelled commodities and Antipodeans. That said, therallied to Gold rallied to a 19-month high whereas WTI crude oil rallied to the levels last seen during 2008 the previous day. Also cheering the supply fears are the nickel buyers as the metal refreshed an all-time high of around $50,550 on the London Metal Exchange .

Amid these plays, the US 10-year Treasury yields extend the previous day’s rebound from two-month to 1.77% up 2.5 basis points at the latest. However, Japan’s Nikkei 225 drops more than 1.0% by the press time whereas the S&P 500 Futures decline 0.30% at the latest.

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