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A$ Outperforms On Better Risk Appetite & RBA

AUD

Aussie outperformed on Tuesday following a hawkish hold from the RBA and weaker-than-expected US retail sales. It was also supported by positive risk sentiment with equities and commodities stronger. AUDUSD rose 0.7% to 0.6656 and is now trading slightly higher at 0.6658. The USD index fell 0.2%.

  • AUDUSD continues to trade between the two directional triggers with key resistance is at 0.6714 and key support at 0.6576. Moving average studies are in a bull-mode set up, highlighting a potential uptrend.
  • Aussie is up 0.8% against the yen to 105.11, the highest since April 2013. AUDNZD is 0.5% higher at 1.0835 after a high of 1.0845. AUDEUR rose 0.6% to 0.6198 and AUDGBP +0.6% to 0.5238.
  • Equities rallied with the S&P up 0.3% and Euro stoxx + 0.7%. Oil prices increased again with Brent +1.4% to $85.41/bbl. Copper rose 1% and iron ore is up to around $108/t.
  • The RBA releases its chart pack today but other than that there are no data and events in Australia.
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