A$ Stronger Today But Off Highs
AUDUSD has continued to trade above 64c during the APAC session and has risen 0.2% and is currently around 0.6427, off the intraday high of 0.6433 the highest since October 2. Aussie has been buoyed by higher equity markets and a weaker greenback (USD index is down 0.1%).
- Aussie is higher against the majors but AUDNZD is flat at 1.0647. AUDJPY is 0.3% higher at 95.44, close to its intraday high. AUDEUR is up 0.2% to 0.6077 and AUDGBP +0.2% to 0.5247.
- While October Westpac consumer confidence improved, it remains depressed. The NAB business survey showed a resilient economy with easing price/cost pressures.
- Equity markets are stronger with the ASX up 1.2%, Nikkei +2.4% and Hang Seng +1.9%. S&P e-minis are 0.2% higher. Oil prices are down around 0.3% with Brent trading at $87.88/bbl. Copper is up 0.7% and iron ore is steady at just under $115/t.
- Later Fed’s Perli, Bostic, Waller, Kashkari and Daly speak. There is also US NFIB small business optimism and NY Fed 1-yr inflation expectations. The IMF’s World Economic Outlook is published.