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A$ Down Versus USD & EUR, Inflation Expectations Coming Up

AUD

Aussie underperformed the G10 on Wednesday and AUDUSD is down 0.2% to 0.6530, off the low of 0.6520. The USD index finished flat as markets wait for the key US CPI data out later today.

  • The bear cycle has continued and AUDUSD is trading below the 20- and 50-day EMAs. The bear trigger is at 0.6458. Initial resistance is 0.6610.
  • Aussie was steady against most crosses except falling 0.4% to 0.5950 versus the euro. AUDNZD couldn’t sustain breaks above 1.08 and zigzagged around 1.079, where it is currently. AUDJPY is 93.81 and AUDGBP is 0.5135.
  • Equity markets were mixed with the S&P down 0.7% but the Euro stoxx rising 0.7%. VIX finished at 16%. Oil prices were stronger again with WTI rising 1.6% to $84.22/bbl. Copper is 0.5% higher and iron ore is $101-102/t.
  • Melbourne Institute consumer inflation expectations for August print today.
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