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A$ Struggles As Risk Appetite Deteriorates

AUD

Aussie is generally weaker today on the back of softer risk appetite which is also seen in lacklustre equity performance. There has been no new macro information. AUDUSD is down 0.1% to 0.6556 after a high of 0.6574 and off the low of 0.6549. The USD is slightly higher. AUDNZD is recovering and is back above 1.06.

  • AUDNZD is 0.3% higher at 1.0626, close to the intraday high, after falling to a low of 1.0576 on Friday. The RBNZ meets on Wednesday and is expected to sound cautious but keep rates on hold.
  • AUDJPY is down 0.2% to 98.63 after a low of 98.47. AUDEUR has been range trading and is now 0.1% lower at 0.6062 and AUDGBP is little changed at 0.5177.
  • Equity markets are mixed with the ASX flat, Nikkei up 0.6% but CSI 300 down 0.3%. The S&P e-mini is 0.2% lower today. Oil prices continue to fall with WTI down 0.5% to $76.12/bbl. Copper is 0.6% lower and iron ore has also sold off and is $116-117/t.
  • Later there are US new home sales for January. The ECB’s Lagarde participates in a plenary debate and BoE’s Pill and Breeden also speak.
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