A$ Little Changed Ahead Of RBA Later Today

AUDUSD rose to a high of 0.6644 early in the APAC session before falling to 0.6619 with no obvious catalyst. Mixed regional equities and weak Australian Q1 retail volumes are weighing on the pair. It is now slightly down on the day at 0.6623. The USD index is 0.1% higher.

• Aussie is 0.4% higher against the yen at 102.30 as USDJPY has risen to around 154.50. AUDNZD is slightly lower at 1.1023. AUDEUR is flat at 0.6151 and AUDGBP at 0.5275.
• Equities are mixed with ASX up 0.5% but the Hang Seng down 0.5%. The S&P e-mini is range trading and little changed. Oil prices are off intraday highs but WTI is still up 0.2% to $78.60/bbl. Copper is 0.2% lower and iron ore is down to around $118.60/t.
• Today the RBA decision is announced and updated staff forecasts are released with the Statement on Monetary Policy (see MNI RBA preview here).
• Later the Fed’s Kashkari speaks and March US consumer credit is released. There are also March German factory orders and euro area retail sales.