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A$ Stronger On Better Risk Tone

AUD

AUDUSD is up 0.3% during APAC trading at 0.6668 supported by better risk appetite as equity markets across the region rally and commodity prices are generally higher. The pair is off its intraday high of 0.6683 though. The USD index is down 0.2%.

  • AUDJPY is slightly lower at around 103.72. AUDNZD is 0.2% higher at 1.0751 after trending lower on Wednesday. AUDEUR is up 0.1% to 0.6122 and AUDGBP +0.2% to 0.5209.
  • The currency looked through the wider-than-expected trade surplus and higher-than-projected housing finance data.
  • Equities are stronger following the US with the ASX up 0.7% and the Hang Seng +0.7%. The S&P e-mini is 0.1% stronger. Oil prices are higher with WTI up 0.6% to $74.52/bbl. Copper is 1.1% higher and iron ore is around $108/t.
  • Later US jobless claims, May Challenger job cuts, April trade and final Q1 productivity/ULC as well as April German orders and euro area retail sales print. The ECB decision is announced and a 25bp cut is expected.
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