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A$ Outperforms, Heading Towards 65c

AUD

Aussie outperformed the G10 on Wednesday as lower US yields drove an improvement in risk appetite. AUDUSD rose 0.9% towards 65c and is currently around 0.6479 around initial resistance and well off the intraday low during the European session of 0.6411. The USD index fell 0.2%.

  • Despite Wednesday’s correction higher, trend conditions for AUDUSD remain bearish as it has recently breached the bear trigger at 0.6458. The pair is currently around initial resistance and next to watch is firm resistance at 0.6522, the 20-day EMA.
  • AUDNZD is back above 1.08 having risen 0.4% to 1.0845. AUDJPY is up 0.1% to 93.83 after a low of 93.23. Aussie rose 1% versus the pound and is now trading around 0.5093 and AUDEUR is 0.7% higher at 0.5964.
  • Equity markets were stronger following the improvement in risk sentiment with the S&P up 1.1% and the Euro stoxx +0.2%. VIX is 1pp lower at 16%. Oil prices fell with WTI down 1.4% to $78.56/bbl. Copper is 1.3% higher and iron ore is just under $114/t.
  • There are no data or events in Australia today.
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