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A$ Stabilises During APAC Trading, US Q1 GDP Later

AUD

Aussie has stabilised during APAC trading with the AUDUSD off Wednesday’s intraday low of 0.6591 and is now up 0.1% to around 0.6610. It has been in a narrow range between 0.6600 and 0.6615 today. Initial support is at 0.6595. The USD index is 0.1% lower.

  • Aussie has seen the largest move today versus kiwi with AUDNZD down 0.2% to 1.0771. AUDJPY is flat at around 88.30. After moving down sharply on Wednesday, AUDEUR and AUDGBP are flat today at 0.5980 and 0.5299.
  • Equities in the region are generally lower with the ASX down 0.4% but the CSI 300 up 0.3% and the S&P e-minis +0.2%. Commodities are mixed with WTI oil prices up 0.2% to about $74.50/bbl after yesterday’s slump, copper down 0.3% and iron ore steady around $105/t.
  • Later there is important US Q1 GDP data which is expected to rise 1.9% q/q saar. The price components are also likely to be watched closely. There are also jobless claims and pending home sales for March. On Friday in Australia, Q1 PPI data prints and the RBA private credit series.
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