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A$ Range Trading, Little Reaction To China PMI

AUD

Aussie has been trading in narrow ranges during APAC trading. AUDUSD reached a high of 0.6629 earlier in the session but dipped to 0.6616 following lower-than-expected China PMI data. It is currently up 0.1% to 0.6624. The pair ignored the Aussie capex and building approval data. The USD index is down marginally.

  • It is worth noting that there are AUDUSD expiries today worth A$632mn with a 0.66 strike and so participants will be watching any moves towards that level closely. There is also around A$592mn expiring today at 0.6580.
  • AUDNZD continues falling and is down another 0.1% to 1.0734, close to the intraday low, after falling around 0.8% on Wednesday on the RBNZ’s hawkish tone. AUDJPY is 0.1% lower at 97.38. AUDEUR is up 0.1% at 0.6036 and AUDGBP +0.1% to 0.5217.
  • Equity markets are little changed with the ASX flat, CSI down 0.1% and Hang Seng -0.4%. The S&P e-mini is slightly higher. Oil prices are down ahead of today’s OPEC+ meeting with WTI -0.4% to $77.54/bbl. Copper is flat and iron ore is around $129/t.
  • Later the Fed’s Williams speaks on innovations in central banking and there are US jobless claims, October income/spending & deflators, and MNI November Chicago PMI. Also ECB President Lagarde speaks and euro area preliminary CPI data are released. Canadian Q3 GDP prints.
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