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A$ Stronger On More Positive Risk Sentiment, Later Fed’s Powell Speaks

AUD

AUDUSD has trended higher on more positive risk sentiment and possibly also on the chance of more stimulus following soft China CPI data. AUDUSD is up 0.2% to 0.6414, close to the intraday high of 0.6417. Early in the session it fell to 0.6401 but continued to find support at 64c. The USD index is down slightly.

  • Aussie is flat against kiwi at 1.0835 but higher against the other major crosses. AUDJPY is up 0.1% at 96.79, AUDEUR +0.2% to 0.5989 and AUDGBP +0.2% to 0.5220.
  • Equity markets are generally higher with the ASX up 0.6%, the Nikkei +0.9% and CSI 300 +0.3%. The S&P e-mini is off its intraday low but still down marginally. Oil prices are 0.7% higher with Brent rising above $80 again and is currently at $80.11/bbl. Copper is up 0.3% and iron ore is around $125/t.
  • Later there are more Fed speakers with Chairman Powell scheduled to participate on a panel at the IMF conference at 1900 GMT. Harker, Bostic, Barkin and Paese are also on today’s calendar. The ECB’s Lagarde and Lane are due to appear. The focus is on central bankers as in terms of data there are only US jobless claims. Tomorrow the RBA’s Statement on Monetary Policy is published.
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