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A$ Off Highs But Outperforms

AUD

The Aussie was one of the better performers in the G10 on Tuesday. The USD index finished down slightly as it rebounded from its lows on strong building permit data. This brought AUDUSD off its intraday high of 0.6474, but it still rose 0.3% and is now around 0.6458.

  • The bearish trend remains in place and with AUDUSD range trading recently the bear trigger is still 0.6357. Initial resistance is 0.6481.
  • AUDNZD is down 0.1% to 1.0865 but reached 1.0895 during the London afternoon. AUDJPY is 0.4% higher at 95.38. AUDEUR rose 0.4% to 0.6045 and AUDGBP +0.2% to 0.5210.
  • Equity markets were generally lower with the S&P down 0.2% and the Euro stoxx -0.1% but the FTSE and CAC rose 0.1%. Oil prices are off their intraday highs with Brent closing at $94.53/bbl. Copper is down 2.7% and iron ore is $121/t.
  • Today the Westpac leading index for August prints but the focus will be on the Fed decision announced later.
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