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A$ Lower AS US Futures Dip

AUD

AUDUSD has been trading in a narrow range but has dipped recently in line with softer S&P futures and is now down 0.2%. It wasn’t impacted by the release of mixed survey data. It is currently trading at around intraday lows at 0.6955, after a high of 0.6971. The USD DXY is down about 0.1% during APAC trading.

  • Aussie is down against the major currencies. AUDJPY is down 0.4% to 91.83 while AUDNZD is down 0.1% to 1.0946. Aussie is down -0.2% against both the euro and pound at 0.6482 and 0.5728.
  • Equity markets are mixed across the region with the ASX up 0.3% but the CSI 300 down 0.1%, while the S&P e-minis are down moderately. Brent is down another 1% to $85.70/bbl while copper prices are up slightly. Iron ore has been trading between $121 and $122/t.
  • Later US CPI data for January print and the annual rates are expected to ease further but headline could see a pick up in the monthly change to 0.5% m/m from 0.1% the previous month. On Wednesday, RBA Governor Lowe is scheduled to appear before the Senate Economics Committee.

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