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A$ Has 70c Against USD In Sights Again

AUD

AUDUSD has been trading higher during the APAC session and is currently close to its intraday high of 0.6994. It is off its intraday low of 0.6956 and up 0.4% from Friday’s NY close. Initial resistance is at 0.7063. The USD is weaker with DXY down 0.3%.

  • Aussie gains today have been concentrated versus the US dollar. AUDNZD has lost 0.4% and is around 1.076, close to its intraday low, after reaching a high of 1.0807 earlier. AUDJPY is trading in a tight range and now back to 90.28 after a low of 90.076. AUDEUR is also moving sideways and is around 0.6415 and AUDGBP is 0.5622.
  • Most equity markets in the region are shut today for the Lunar New Year holiday but the Nikkei is 1.1% stronger whereas the ASX is flat. S&P e-minis are currently trading 0.1% lower. In the commodity space, WTI oil prices are 0.4% lower at around $81.35/bbl but are in a narrow range. Copper have risen further and is up 0.9% whereas iron ore has moved below $125/t.
  • A quiet day with much of Asia closed and the only data of note later the US Chicago Fed index for December and preliminary January euro area consumer confidence.
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