A$ Makes Up Some Of Its Losses Versus Yen And Kiwi

The AUDUSD is slightly higher during trading today and is around 0.6680, as the 100-day simple moving average of 0.6664 continues to provide support. It rose to a high of 0.6698 earlier but couldn’t hold it and is now around its NY close. DXY is up slightly as UST yields move higher.

• AUDJPY has made some gains and is currently trading close to its intraday high of 88.379. AUD is also higher against the kiwi after very soft NZ consumer confidence data and is now around 1.0565. It is also up slightly against EUR and GBP.
• Equity markets are generally stronger across the region with the ASX up a robust 1.3%, the Hang Seng +0.5% and the Nikkei flat as the market continues to digest yesterday’s BoJ YCC adjustment. WTI oil prices are up slightly to $76.40/bbl and copper is up 0.4% so far today. Iron ore is also higher heading towards $111/t.
• The November Westpac leading index fell 0.13% m/m and -0.9% 6m/6m annualised but October was revised up to +0.02% m/m. The further deterioration in the 6-month measure is signalling slower growth in the months ahead.
• The rest of the day is quiet and the focus later is on Canadian inflation and US consumer confidence and home sales.