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July, 20 - AUD/USD depressed amid negative S&P 500 futures

AUD/USD has pulled back from daily lows of 0.6974, as the bulls are rescued by the broad-based US dollar retreat.

AUDUSD20072020Despite the fresh leg higher, the spot lacks follow-through to regain the 0.7000 level, as the persistent weakness in the S&P 500 futures (the risk barometer) weighs on the higher-yielding AUD. S&P 500 futures are down 0.50% to battle the 3,200 mark.

Further, the warning from the Australian acting chief medical officer that the country braces for the second wave of infection could likely keep the upside attempts elusive.

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