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A$ Slightly Stronger But Lost Some Ground Vs Yen, Markets Waiting On US CPI

AUD

The USD index is down 0.1% during the APAC session which has driven AUDUSD up 0.1% to 0.6576 despite some weaker Aussie data. Better equity sentiment has also helped. The pair is off its peak of 0.6582. Markets are generally waiting for the US CPI out later today.

  • AUDJPY has seen the largest move falling 0.2% to 95.80, off the intraday low of 95.66. AUDNZD is steady at 1.0721. AUDEUR is up 0.1% to 0.6107 and AUDGBP is little changed at 0.5233.
  • While December Westpac consumer confidence rose 2.7%, it remained at depressed levels. NAB November business conditions/confidence deteriorated sharply but labour demand was unchanged and the cost/price components rose.
  • Equity markets are generally higher so far today with the ASX up 0.4% and the Nikkei +0.6% but the Hang Seng down 0.1% but the CSI 300 -0.3%. The S&P e-mini is unchanged. Oil prices are also unchanged with WTI around $71.35/bbl. Copper is 0.3% higher and iron ore is around $135/t.
  • Later US CPI data for November print and are expected to show a slight easing in headline to 3.1% and core steady at 4% (see MNI US CPI Preview). There are also real earnings and the November budget statement. UK labour and wages data are on the schedule.
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