A$ Rallies Despite Falling Equities, AUDJPY Down Slightly

AUDUSD is up 0.2% during APAC trading and is currently around 0.6666, close to the intraday high of 0.6672. It reached a low of 0.6651 earlier, still well above the bear trigger of 0.6596. The rally has been partly driven by the weaker greenback with the USD index down about 0.1% from its high today.

• AUDJPY is down 0.1% to 96.17, as USDJPY fell on intervention concerns. AUDNZD is up slightly to 1.0775. AUDEUR is up 0.3% to 0.6148 and AUDGBP +0.2% to 0.5249.
• Equity markets across the region are weaker with the ASX down 1.2%, Hang Seng -2.2% and the Nikkei -1.2%. Oil prices are holding onto the week’s gains with Brent marginally higher at $76.72. Copper is down 0.2% and iron ore just under $111/t.
• Later the Fed’s Logan speaks. Also in the US, there are jobless claims, Challenger job cuts, JOLTS job openings, ADP employment and services ISM/PMI – all of which will be important guides to Friday’s payroll data. There is also US May trade.