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A$ Stable Ahead Of FOMC Announcement

AUD

AUDUSD is down slightly to around 0.7050 as the USD is stable. It has been trading in a narrow range reaching a high of 0.7057 earlier followed by a low of 0.7047.

  • Aussie is up against the kiwi after the NZ employment report showed a 0.1pp rise in the unemployment rate. It is currently trading around 1.0960. AUDJPY is down 0.1% to about 91.65. Aussie has been quite stable against the euro and pound at 0.6492 and 0.5726 respectively.
  • Equity markets in the region are following the US higher with the ASX up 0.5% and the Nikkei +0.5%. However, S&P e-minis are down 0.35%.WTI oil prices are up 0.4% to $79.20/bbl. Copper prices are down 0.3% while iron ore is solid at $129/t.
  • Later the Fed meets and is expected to hike rates 25bp (see MNI Fed Preview). There are also manufacturing PMIs/ISM for January.
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