A$ Falters Amid Broad USD Rebound

The A$ is the third worst performer in the G10 space over the past 24 hours (-0.75%). We last track around 0.6690, recovering from lows in the NY session of 0.6634. Broader USD sentiment was stronger, amid hawkish Fed rhetoric and higher terminal rates pricing.

• US equities finished lower, but like the AUD, recovered as the US session progressed. Losses are in the 0.30-0.35% range. The US VIX finished down slightly, sub 24%. EU equities were lower as well, but only off modestly.
• AU-US yield spreads remain comfortably off earlier weekly highs, despite better Australian data in recent sessions, as Fed speak dominated.
• Commodities weakened, base metals off a further -2.80% for Thursday's session, while the aggregate index fell by 0.64%. Iron ore remains close to recent highs, near $98/tonne (December contract).
• The local data calendar is quiet today. From a technical standpoint, the 100-day EMA comes in at 0.6673, while the NY session low was 0.6634, and then 0.6578 was the low from November 11. On the topside, yesterday's high was around 0.6750, while moves near 0.6800 drew selling interest earlier in the week.