A$ Lower As Safe Have Currencies Outperform

Aussie underperformed the G10 on Friday apart from the yen. AUDUSD finished Friday up 0.2% at 0.6385. The pair initially fell following the stronger-than-expected US payrolls but began to rally soon after. The USD index fell 0.2%. AUDUSD has started today lower at 0.6363 following the atrocities and subsequent raised geopolitical tensions over the weekend.

• AUDUSD fell through the bear trigger of 0.6331 last week which confirmed a range breakout and resumption of the downtrend. Initial support is at 0.6287 and resistance at 0.6399.
• AUDJPY reached a high of 95.56 towards the end of the US session on Friday and finished at 95.35 but has started the week lower at 94.91. AUDNZD traded below 1.07 on Friday and closed at 1.066. It is currently around this level. AUDEUR finished Friday at 0.6032 and is now at 0.6033. AUDGBP is lower at 0.5216 down from 0.5220 on Friday.
• Equities rallied at the end of last week with the S&P up 1.2% and the Euro stoxx +1.1%. Oil prices were higher but still around the week’s lows with WTI up 0.6% to $82.81/bbl. LME metal prices rose 1.3% to be down 3.2% on the week. Iron ore is around $118/t.
• There are no data or events in Australia today. The survey data released tomorrow are likely to be the highlight of the week.