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A$ Moderately Higher Ahead Of Expected Fed Rate Pause

AUD

AUDUSD is 0.2% higher during APAC trading at around 0.6780, just off the intraday high of 0.6783. It hasn’t been able to hold gains above 0.6780. The USD index is flat ahead of the Fed decision later.

  • AUDNZD has been range trading and is currently holding around 1.10. It reached a low of 1.0985 earlier in the session. AUDJPY is up 0.1% to 94.97. Aussie is 0.2% higher against the euro and pound at 0.6281 and 0.5374 respectively.
  • Equity markets are stronger with the ASX up 0.3%, the CSI 300 +0.4% and the Nikkei +0.9%. The S&P e-minis are trading sideways. Brent is down 0.2% to $74.12/bbl. Copper is flat while iron ore is around $111.50/t.
  • Later the Fed decision is announced and it is expected to keep rates on hold (see MNI’s Fed Preview here). There is also US PPI data for May, UK April IP/GDP and euro area IP.
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