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A$ Subdued, RBA Coming Up

AUD

Aussie has not been able to make up any of its losses from yesterday and AUDUSD is down another 0.1% to 0.6611 pressured by the general pullback in risk. It came off its low following the better-than-expected China Caixin services PMI. It has not broken below 66c yet. The USD index is flat.

  • AUDNZD has been trending lower ahead of the RBA decision. The pair is down 0.1% to 1.0723. AUDJPY is 0.2% lower at 97.27. AUDEUR is down 0.2% to 0.6098, close to the intraday low, and AUDGBP -0.2% to 0.5232.
  • Equity markets have followed the US lower with the ASX down 0.9% and the Nikkei -1.4%. The S&P e-mini is down 0.2%. Oil prices are up moderately with WTI +0.2% to $73.17/bbl. Copper is flat and iron ore is back above $130/t.
  • The RBA decision is announced at 1430 AEDT today and rates are widely expected to be left at 4.35% (see MNI RBA Preview).
  • Later US services PMI/ISM for November print as well as October JOLTS job openings. There are also European PMIs.
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