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A$ Outperforms, AUDUSD Holding Above 0.6350

AUD

Aussie is outperforming during APAC trading today. AUDUSD is 0.3% higher at 0.6353, close to the intraday high of 0.6358. It was already trending higher from its low of 0.6332 before the stronger-than-expected retail sales data and has continued since then. Initial resistance is at 0.6411. The USD index is flat.

  • AUDNZD continues to hold above 1.09 and is currently around 1.0911. AUDJPY is 0.3% higher at 95.08, close to the intraday high of 95.18. AUDEUR has risen today and broke above 0.60 and is currently up 0.3% to 0.6013. AUDGBP is +0.4% to 0.5244.
  • Australian retail sales grew a stronger-than-expected 0.9% m/m in September after 0.3% to be up 2% y/y. The strength was due to a number of special factors.
  • Equity markets are mixed with the ASX down 0.6% and the Nikkei -0.9% but the CSI 300 up 0.1%. The S& P e-mini is 0.4% higher. Oil prices are down after rallying on Friday with WTI -1% to $84.66/bbl. Copper is up 0.3% and iron ore is just under $120/t.
  • Later US October Dallas Fed manufacturing, euro area October confidence, Q3 German GDP and September CPI are released. Also ECB’s de Guindos speaks.
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