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A$ Range Trading Ahead Of Tuesday’s RBA Decision

AUD

Aussie has generally been range trading pressured by lacklustre local equities, but has strengthened against the yen driven by expectations of a muted BoJ tightening cycle. AUDUSD is little changed at 0.6564, but off the intraday low of 0.6554. The USD index is slightly higher.

  • AUDJPY is up 0.2% to 97.95, close to the intraday high. AUDNZD is steady at 1.0780. AUDEUR is moderately higher at around 0.6029 and AUDGBP at 0.5155.
  • Equities are mixed with the ASX flat, Hang Seng up 0.1% and CSI 300 +0.2%. The S&P e-mini is 0.1% higher. Oil prices are up slightly with WTI +0.3% to $81.28/bbl. Copper is flat and iron ore is up to around $102/t.
  • The key data release later is euro area February CPI but there are also US NY Fed services and NAHB housing. The ECB’s Buch speaks. Tomorrow the focus in Australia will be the RBA decision and press conference.

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