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A$ Range Trading But Off Lows Versus USD

AUD

AUDUSD reached a session low of 0.6528 earlier but has rebounded following slightly better-than-expected China GDP data. It posted its first monthly rise since January. AUDUSD is currently trading around 0.6542, close to the high of 0.6547. The USD index is flat.

  • There have only been slight moves in Aussie crosses with AUDJPY down 0.1% to 93.78, AUDEUR -0.1% to 0.5967 and AUDGBP flat at 0.5131. AUDNZD has broken above 1.08, a key level for bulls, and is 0.15% higher today at 1.0806.
  • Equity markets are mixed with the ASX up 0.1% and the KOSPI +0.9% but Hang Seng down 0.4% and CSI 300 -0.2%. The S&P e-mini is 0.1% higher. Oil prices have been range trading and Brent is down 0.1% to $86.06/bbl. Copper is up 0.6% and iron ore above $101/t.
  • The calendar is very quiet later with no data/events of note. The focus is on Thursday’s US CPI.
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