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A$ Continues To Strengthen Following US Debt Deal

AUD

Aussie continues to outperform with AUDUSD 0.3% higher and trading around 0.6538 helped by better risk sentiment following the US debt agreement and the resultant rally in equities, but still well below resistance at 0.6574. The USD index is down slightly.

  • Aussie is stronger against the major crosses with AUDJPY up 0.2% to 91.83. AUDNZD is 0.2% higher at 1.0788. Aussie is up 0.3% versus the euro and pound to 0.6091 and 0.5292 respectively.
  • Equity markets are generally higher with the ASX up 1.1% and the Nikkei +1.4%, but the CSI 300 down 0.3%. S&P e-minis are off their intraday high but still up 0.3%. Oil prices have risen further by around a percent during APAC trading with WTI at $73.42/bbl. Copper prices are 0.1% higher, while iron ore is lower to just above $100/t.
  • There is a holiday in the US and UK today, so upcoming events are thin. The ECB is observing the Whit Monday holiday.
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