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A$ Outperforms Supported By Equity Rally

AUD
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Aussie outperformed the G10 on Friday supported by strong equity performance. AUDUSD rose to a peak of 0.6554 during European trading before falling to 0.6517 following a mixed reaction to US data. The pair finished up 0.2% to 0.6533 and is currently slightly higher at 0.6538. The USD index rose 0.3%.

  • AUDUSD maintained its bullish phase with the 50-day EMA at 0.6526 breached and a clear break would highlight a stronger reversal and open 0.6644, April 9 high. Initial support is at 0.6441 with the bear trigger at 0.6363.
  • AUDJPY rose 2% to 103.45 having trended higher through Friday’s trading as the yen sank following the BoJ’s lack of concern re the inflationary impact of the weak currency. USDJPY fell 1.7%. AUDJPY is currently around 103.52.
  • AUDNZD rose 0.4% and touched 1.10 briefly at the end of Friday’s trading. The pair is currently around 1.0995. AUDEUR is 0.6% higher at 0.6108 and AUDGBP +0.4% to 0.5230.
  • Equities were stronger with the S&P up 1% and the Euro stoxx +1.4%. Oil prices were little changed with Brent 0.3% higher at $88.06/bbl. LME metal prices rose 0.5% on Friday to be down 1.1% on the week. Iron ore is lower at around $116.50/t.
  • There are no data or events in Australia today.
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Aussie outperformed the G10 on Friday supported by strong equity performance. AUDUSD rose to a peak of 0.6554 during European trading before falling to 0.6517 following a mixed reaction to US data. The pair finished up 0.2% to 0.6533 and is currently slightly higher at 0.6538. The USD index rose 0.3%.

  • AUDUSD maintained its bullish phase with the 50-day EMA at 0.6526 breached and a clear break would highlight a stronger reversal and open 0.6644, April 9 high. Initial support is at 0.6441 with the bear trigger at 0.6363.
  • AUDJPY rose 2% to 103.45 having trended higher through Friday’s trading as the yen sank following the BoJ’s lack of concern re the inflationary impact of the weak currency. USDJPY fell 1.7%. AUDJPY is currently around 103.52.
  • AUDNZD rose 0.4% and touched 1.10 briefly at the end of Friday’s trading. The pair is currently around 1.0995. AUDEUR is 0.6% higher at 0.6108 and AUDGBP +0.4% to 0.5230.
  • Equities were stronger with the S&P up 1% and the Euro stoxx +1.4%. Oil prices were little changed with Brent 0.3% higher at $88.06/bbl. LME metal prices rose 0.5% on Friday to be down 1.1% on the week. Iron ore is lower at around $116.50/t.
  • There are no data or events in Australia today.