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A$ Begins Recovery As China Equities Rise

AUD

AUDUSD has been normalising during APAC trading with the pair rising 0.3% to 0.6423, close to the intraday high. The USD has eased 0.1% on the better risk tone and Australian and China equities are stronger after yesterday’s sharp falls. Iron ore is also higher.

  • AUDNZD is down 0.1% to 1.0872 after the NZ Q1 inflation report showed sticky domestic inflation. AUDJPY is 0.3% higher to 99.33. AUDEUR is up 0.2% to 0.6040 and AUDGBP +0.2% to 0.5164.
  • Equities are mixed with the ASX up 0.3%, China CSI 300 +0.4% but the Hang Seng down 0.2%. The S&P e-mini is 0.2% higher. Oil prices are lower with WTI down 0.5% to $84.92/bbl. Copper is +0.1% and iron ore is up to over $111.50/t.
  • Later the Fed’s Mester speaks and the Beige Book is published. The ECB’s Lagarde, Schnabel and Cipollone and BoE’s Bailey appear. In terms of data, March UK CPI/PPI and euro area CPI are released.
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