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A$ Range Trading, Looks Through Data

AUD

Aussie has been range trading during the APAC session and is currently down slightly against the majors pressured by weaker equities. AUDUSD is hovering just above 65c at 0.6506, close to the intraday low. The USD index is little changed.

  • AUDJPY is down 0.1% to 97.89 after a low of 97.83. AUDNZD is around 1.0680. AUDEUR hit 0.6000 early in the session but is now around 0.5997. AUDGBP is steady at 0.5128.
  • The A$ ignored the better-than-expected Q4 current account data and the expected 0.6pp net export contribution which adds upside risks to Wednesday’s GDP report.
  • Equities are mixed with the ASX up 0.1% but the Hang Seng down 1.3% and the CSI 300 -0.2%. The S&P e-mini is 0.2% lower. Oil prices have continued to decline with WTI -0.3% to $78.56/bbl. Copper is down slightly and iron ore $116-117/t.
  • Later the Fed’s Barr speaks and February services ISM/PMI and final January durable goods orders print. European PMIs are also released.

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