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A$ Range Trading As Markets Wait For US CPI

AUD

AUDUSD trended higher for most of today’s APAC session but has now given up those gains. It is currently flat at around 0.6655 after reaching an intraday high of 0.6665. The USD index is also unchanged.

  • After trending higher on Tuesday, AUDNZD has moved a further 0.1% to around 1.0756.Aussie is up 0.1% versus the yen at 89.05. Aussie is flat against both the euro and pound at 0.6093 and 0.5353 respectively.
  • Equity markets across the region are mixed so far today with the ASX and Nikkei both up 0.6%, but the Hang Seng down 0.7% and the CSI flat. The S&P e-minis are up 0.1%. Oil is holding onto its gains with Brent 0.1% higher at $85.65/bbl. Copper is +0.3% and iron ore is up to about $119.50/t.
  • The focus later today is on US CPI data for March. While the headline is expected to ease to 5.1% from 6%, core is forecast to rise 0.1pp to 5.6% (see U.S. CPI Preview: April 2023).
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