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A$ Bounces On Improved Risk Appetite, Down Again Ahead Of RBA

AUD

The Hang Seng is currently 1.3% higher during APAC trading which has helped risk sentiment and driven a small bounce in AUDUSD to 0.6624, as the USD index shifted down slightly. It has come back and is now trading around 0.6616.

  • Aussie is steady against the major crosses except kiwi. AUDNZD is down 0.1% to 1.0886 after trading above 1.09 earlier in the session. AUDJPY is 92.34, AUDEUR 0.6172 and AUDGBP 0.5316.
  • Equity markets are mixed with the ASX down 0.5% ahead of the RBA meeting but the CSI +0.6% and Hang Seng +1.3%. S&P e-minis are flat but off the lows. Brent is down 0.5% to $76.35/bbl to be 0.3% higher than Friday’s close. Copper is off its lows but steady on the day. Iron ore is around $108/50/t.
  • Today the RBA meets and again the decision looks like a close call. See MNI RBA Preview here. Later there is US June IBD/TIPP economic optimism, euro area April retail sales and consumer expectations.
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