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A$ Corrects On Weaker Data, AUDUSD Around Support

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AUDUSD is down 0.4% to 0.6539 during today’s APAC trading as weaker Aussie retail sales and China services PMI weigh on the currency after it rose 0.5% on Monday. Stronger regional equities have not been able to provide support. The pair fell to a low of 0.6537 but is now trading around support at 0.6441. The USD index is 0.2% higher.

  • Australian retail sales were weaker than expected in March falling 0.4% m/m after rising 0.2% with the decline broad based. They are now up only 0.8% y/y.
  • AUDJPY is down 0.1% to 102.55 after a high of 102.90 earlier. AUDNZD is down slightly to 1.0981 after a high of 1.0996. AUDEUR is down 0.3% to 0.6109 and AUDGBP -0.3% to 0.5213.
  • Equities are generally stronger with the ASX up 0.2% and the Hang Seng +0.3% but the CSI 300 down 0.1% and S&P e-mini -0.1%. Oil prices are down moderately with WTI -0.1% to $82.58/bbl. Copper is little changed and iron lower at around $117/t.
  • Later the Fed announces its decision (see MNI Fed Preview) and US Q1 ECI, February house prices, April MNI Chicago PMI and consumer confidence print. The ECB’s Buch speaks and euro area preliminary April HICP, and German, Italian & French Q1 GDP are released.
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AUDUSD is down 0.4% to 0.6539 during today’s APAC trading as weaker Aussie retail sales and China services PMI weigh on the currency after it rose 0.5% on Monday. Stronger regional equities have not been able to provide support. The pair fell to a low of 0.6537 but is now trading around support at 0.6441. The USD index is 0.2% higher.

  • Australian retail sales were weaker than expected in March falling 0.4% m/m after rising 0.2% with the decline broad based. They are now up only 0.8% y/y.
  • AUDJPY is down 0.1% to 102.55 after a high of 102.90 earlier. AUDNZD is down slightly to 1.0981 after a high of 1.0996. AUDEUR is down 0.3% to 0.6109 and AUDGBP -0.3% to 0.5213.
  • Equities are generally stronger with the ASX up 0.2% and the Hang Seng +0.3% but the CSI 300 down 0.1% and S&P e-mini -0.1%. Oil prices are down moderately with WTI -0.1% to $82.58/bbl. Copper is little changed and iron lower at around $117/t.
  • Later the Fed announces its decision (see MNI Fed Preview) and US Q1 ECI, February house prices, April MNI Chicago PMI and consumer confidence print. The ECB’s Buch speaks and euro area preliminary April HICP, and German, Italian & French Q1 GDP are released.