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A$ Continues Upward Trend, Fed Speak Later

AUD

AUDUSD has continued to trend higher during today’s APAC session. The pair is up 0.2% to 0.6537, close to the intraday high of 0.6536 due to a softer greenback (USD index -0.1%) on lower US yields and generally stronger equity sentiment.

  • Aussie is also higher against the major crosses, except kiwi after stronger-than-expected NZ labour market data. AUDNZD is testing 1.07 again and is around 1.0704. It fell to 1.0691 following the NZ data and then rose to a high of 1.0713. AUDJPY is 0.2% higher at 96.67. AUDEUR is up 0.2% to 0.6075 and AUDGBP +0.1% to 0.5185.
  • Equity markets are mainly stronger with the ASX up 0.8% and the Hang Seng +1.4% but the Nikkei is down 0.2%. The S&P e-mini is 0.1% stronger. Oil prices are moderately higher with WTI up 0.3% to $73.56/bbl. Copper is 0.3% higher and iron ore is $125-126/t.
  • Later the Fed’s Harker, Kugler, Collins, Barkin, Bowman, Remache and Nordstrom all speak. On the data front there is December US trade and consumer credit and German IP.
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