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A$ Makes Gains But Remains Below 70c Against USD

AUD

Aussie has made gains against the USD during today’s APAC session but remains below 70c at around 0.6967, ahead of a swathe of December Chinese data. It reached an intraday high of 0.6976 after a low of 0.6953 earlier. DXY is trading 0.2% higher.

  • Aussie has made gains against the major crosses today. AUDNZD is up 0.1% and trading around the intraday high at 1.0910. It’s 0.5% stronger against the yen at 89.82 and 0.2% against the euro to 0.6440.
  • Westpac consumer confidence for January rose at its fastest pace since April 2021 helped by an RBA meeting not taking place in January.
  • Equity markets in the region are mixed today following the US holiday with the Nikkei up 1.4%, the ASX flat and the Kospi down 0.4%. S&P e-minis are so far down 0.2%. WTI oil prices are range trading but currently down 1.1% on the NY close at around $79/bbl. Copper prices continue to be impacted by global growth concerns and are down a further 1.4%. Iron ore is trading around $119.70/t.
  • A swathe of Chinese data is released soon, including IP, retail sales and Q4 GDP. Later there is UK labour market data. On Wednesday, the BoJ meets and US December retail sales print.
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