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A$ Falls On Risk Deterioration

AUD
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Aussie is down on a softer risk tone with HK/China equities opening weaker and commodity prices falling. AUDUSD is down 0.2% to 0.6653 after a low of 0.6646. The USD index is off its intraday high but still up 0.1%.

  • The currency looked through the RBA May meeting minutes which didn’t contain any surprises as the downside risks to growth offset the upside ones to inflation. The Board seems firmly on hold for now.
  • AUDJPY is down 0.1% to 104.08 after a low of 104.00. AUDNZD is little changed at 1.0922 after a high of 1.0931. AUDEUR is 0.2% lower at 0.6129 and AUDGBP -0.2% to 0.5238.
  • Equities are mixed with the ASX down 0.2% and the Hang Seng down 1.8% but the Nikkei is up 0.1%. The S&P e-mini is flat. Oil prices are lower with WTI down 0.5% to $78.93/bbl. Copper is 0.6% lower and iron ore is just under $119/t.
  • Later the Fed’s Barkin, Waller, Williams, Bostic and Barr and BoE’s Bailey speak. US Philly Fed non-manufacturing for May and Canadian April CPI print.
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Aussie is down on a softer risk tone with HK/China equities opening weaker and commodity prices falling. AUDUSD is down 0.2% to 0.6653 after a low of 0.6646. The USD index is off its intraday high but still up 0.1%.

  • The currency looked through the RBA May meeting minutes which didn’t contain any surprises as the downside risks to growth offset the upside ones to inflation. The Board seems firmly on hold for now.
  • AUDJPY is down 0.1% to 104.08 after a low of 104.00. AUDNZD is little changed at 1.0922 after a high of 1.0931. AUDEUR is 0.2% lower at 0.6129 and AUDGBP -0.2% to 0.5238.
  • Equities are mixed with the ASX down 0.2% and the Hang Seng down 1.8% but the Nikkei is up 0.1%. The S&P e-mini is flat. Oil prices are lower with WTI down 0.5% to $78.93/bbl. Copper is 0.6% lower and iron ore is just under $119/t.
  • Later the Fed’s Barkin, Waller, Williams, Bostic and Barr and BoE’s Bailey speak. US Philly Fed non-manufacturing for May and Canadian April CPI print.