May 23, 2024 03:06 GMT
A$ Struggling To Recover Yesterday’s Losses
AUD
AUDUSD has held onto Wednesday’s losses to be little changed at 0.6623 during APAC trading today. The pair has moved in a narrow range of 0.6613/0.6625. Weaker HK/China equities are limiting Aussie upside as the region digests the more hawkish sounding Fed in its May minutes. The USD index is down slightly.
- AUDNZD has continued weakening following yesterday’s RBNZ hawkish hold. It is down 0.2% to 1.084 after trading around 1.0930 before the decision. Other major crosses are little changed with AUDJPY at 103.82, AUDEUR 0.6116 and AUDGBP 0.5205.
- Equities are mixed with the ASX down 0.5% and Hang Seng -1.3% but the Nikkei up 0.8%. The S&P e-mini has rallied 0.4%. Oil prices continue falling with WTI down 0.7% to $77.04/bbl. Copper is 1% lower and iron ore is $120-121/t.
- The Fed’s Bostic and BoE’s Pill appear. US jobless claims, preliminary May PMIs and new home sales print. There’s also euro area May PMIs & consumer confidence, and Q1 negotiated wages. The G7 central bank governors and finance ministers meeting is taking place.
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