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A$ Outperforms, RBA’s Hauser Speaks Later

AUD

Aussie was one of the better performers in the G10 on Thursday helped by stronger commodity prices including iron ore and a late recovery in US equities. AUDUSD rose 0.3% to 0.6667 after falling to 0.6634 after the US data was released. The pair is currently trading around 0.6668. The USD index was slightly higher on the day.

  • The bull cycle remains intact. Initial resistance and bull trigger is 0.6714. Key support is at 0.6598, 50-day EMA, and a clear break would open 0.6558, May 8 low.
  • Aussie is up 0.2% against kiwi to 1.0755. AUDJPY range traded and is down slightly at 103.74. AUDEUR is 0.1% higher at 0.6122 after a low of 0.6096 following the ECB rate cut. AUDGBP rose 0.3% to 0.5212.
  • The Euro stoxx rose 0.7% and the FTSE +0.5% but the S&P closed flat. Oil prices continued recovering with Brent 2% higher at $80.01/bbl. Copper is up 1.4% and iron ore is stronger at around $112/t.
  • RBA deputy governor Hauser participates in a fireside chat at 1434 AEST. There isn’t any data.
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