A$ Outperforms, Holding Above 67c

Aussie outperformed the G10 and is down 0.1% versus the dollar. The USD index rose 0.5% following the very good Empire manufacturing result. AUDUSD is holding above 67c at 0.6702. It reached a high of 0.6721 late in the APAC session before falling to 0.6681 during NY.

• Key short-term resistance is at 0.6806, April 14 high, and a break of this would reinstate the bullish theme and opens up 0.6861. On the downside, the level to watch is 0.6620, the April 10 low, and a breach of this would be bearish.
• AUDNZD is 0.3% higher at 1.0836. It reached an intraday high of 1.085, the highest since early March. AUDJPY is up 0.4% to 90.12, just below the April 13 high. Aussie is up 0.5% against the euro to 0.6134 and 0.2% versus the pound to 0.5416.
• Equity markets were mixed on Monday with the S&P up 0.3% and the FTSE +0.1% but the Eurostoxx down 0.5%. The VIX fell to 16.9%. Oil prices unwound their gains from recent days and are around the levels from the start of last week. WTI fell 2% to around $80.90/bbl. Copper is down 0.8% but iron ore is up to $117.35/t.
• Today the CBA’s household spending intentions for March prints followed by the RBA meeting minutes. Given that Governor Lowe spoke after the last meeting, there is not expected to be much new information in the minutes.