A$ Moderately Higher But Struggling Against Kiwi Following Data

AUDUSD moves during today’s APAC trading are being driven by the US dollar. The pair is up 0.1% to 0.6794 but off the intraday high of 0.6803, with it briefly above the bull trigger at 0.6799. It looked through weak Q2 capex data and softer equities. The USD index is down 0.1%.

• AUDNZD is down 0.4% to 1.0819 with the pair falling to 1.0817 following very strong NZ ANZ business confidence data and then stepping down to 1.0798 after Aussie investment data showed a 2.2% q/q Q2 contraction. It found support at 1.08.
• AUDJPY is moderately higher at 98.15, close to the intraday high of 98.29. Aussie is little changed against the euro at 0.6102 and pound at 0.5145.
• Equities are generally weaker with the ASX down 0.5% and the Hang Seng -0.8%. The S&P e-mini is down 0.5% following Nvidia’s disappointing results. Oil prices are moderately higher with WTI up 0.4% to $74.78. Copper is down 0.3% while iron ore is steady around $101/t.
• Later the Fed’s Bostic and ECB’s Lane speak. US revised Q2 GDP, July trade & inventories and jobless claims print, as well as the European Commission survey for August.