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A$ Range Trading, Down Against Yen

AUD

AUDUSD has been under pressure during the APAC session but is close to flat at 0.6727 after an intraday low of 0.6715, below initial support of 0.6719, the 50-day EMA. China/HK equities are weaker. The USD index is flat.

  • Aussie is down against the major crosses, except kiwi. AUDJPY is 0.3% lower at 95.13 while AUDNZD is 0.1% higher around 1.0919. AUDEUR is down slightly to 0.6046 and AUDGBP -0.1% to 0.5231.
  • Judo Bank preliminary July PMIs showed that activity contracted in the month driven by services but price pressures rose. See MNI PMIs Show Rising Inflation Trends As Activity Shrinks.
  • Equity markets are mixed with the ASX up slightly, the Nikkei +1.2% but the Hang Seng down 1.2%. S&P e-minis are flat. Oil prices are down due to the upcoming Fed meeting with Brent -0.5% to $80.63/bbl. Copper is up 0.3% and iron ore is higher at above $113.50/t.
  • Later the US preliminary S&P Global PMIs for July and the June Chicago Fed index print. There are also European preliminary July PMIs.
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