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A$ Outperforming But Not Versus Kiwi


Aussie is stronger during APAC trading today. AUDUSD is up 0.3% to 0.6317. Early in the session there were breaks below 63c but they were short lived and support at 0.6287 has held. The USD index is down 0.1%.

  • Kiwi has bucked the trend and rallied against Aussie with AUDNZD down 0.25% to 1.0672 but well off the earlier low of 1.0644. AUDJPY is 0.2% higher at 94.42 after it fell around 0.5% on Friday. AUDEUR is up 0.1% to 0.6000 and AUDGBP +0.2% to 0.5197.
  • Equities have followed the US lower with the ASX down 0.3% and the Nikkei -1.6% but the S&P e-mini is up 0.3%. Oil prices are lower with WTI down 0.3% to $87.45/bbl. Copper is up 0.4% and iron ore under $114/t.
  • Later the Fed’s Harker speaks on the economic outlook and the ECB’s Lagarde and Panetta attend the Eurogroup meeting and Enria and Tuominen speak. In terms of data, there is only US October Empire manufacturing. Tomorrow RBA October minutes are released.

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