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A$ Close To Session Highs Despite Trade Surplus Miss, Broader USD Trends Dominating

AUD

AUD/USD sits a touch below session highs in recent dealings, last in the 0.6425/30 region (highs for the session at 0.6431). Data just released on housing loans and trade figures for Sep haven't shifted the sentiment needle greatly. Most notable was the lower trade surplus, just under A$6.8bn, versus a A$9.5bn forecast. This reflected higher imports, +7.5% m/m, while exports fell -1.4%. The housing data was close to expectations (0.6% m/m, 1.0% forecast).

  • Near term AUD sentiment appears positive, as broader USD sentiment falters as the market digests the FOMC and US data misses from Wednesday's NY session. We are above the 20 and 50 EMAs, the 100-day sits at ~0.6480.
  • The currency is +0.55% higher, only bettered by NZD (0.65%) in the G10 space.
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