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A$ Following China-Related Asset Trends

AUD

AUD/USD is seeing some support closer to 0.6400/10. The pair was last at 0.6425/30, and is largely taking it cues from China related asset moves. The bounce in the A$ coincided with Hong Kong and China related equities reversing earlier losses and moving back into positive territory. The A$ is still down 0.70% versus NY closing levels though at the end of last week. It is the second worst performer in the G10 space after NZD so far today, which down around 0.70%.

  • Commodities are lower, but away from worst levels. Copper (CMX basis) is off close to 2% (following Friday's 7.60% rally), but dips sub $360 have been supported, while iron ore remains sub $85/tonne. Moves towards $84/tonne have been supported though.

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