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A$ Supported By Stronger Equities, Bullish Theme Intact

AUD
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Aussie was a mid-range performer in the G10 supported by stronger equities as the greenback weakened (USD index down 0.2%). AUDUSD trended higher through the session to reach a high of 0.6637. It finished up 0.3% at 0.6628 and is currently around 0.6633.

  • The move lower over last week is seen as corrective with the bullish theme intact. Initial resistance and bull trigger is at 0.6714, May 16 high, and support at 0.6592, May 24 low.
  • AUDNZD range traded and was little changed at 1.0829. AUDJPY is 0.4% higher at 104.07. Aussie is 0.1% higher versus the euro and the pound at 0.6113 and 0.5205 respectively.
  • Equities were mixed with the S&P up 0.7%, the Euro stoxx flat but the FTSE down 0.3%. Oil prices were stronger with Brent up 0.9% to $82.10/bbl. LME metal prices fell 0.2% on Friday to be down 2% on the week. Iron ore is around $120/t.
  • There are no data or events today in Australia. The highlights of the week include Tuesday’s retail sales and Wednesday’s CPI for April.
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Aussie was a mid-range performer in the G10 supported by stronger equities as the greenback weakened (USD index down 0.2%). AUDUSD trended higher through the session to reach a high of 0.6637. It finished up 0.3% at 0.6628 and is currently around 0.6633.

  • The move lower over last week is seen as corrective with the bullish theme intact. Initial resistance and bull trigger is at 0.6714, May 16 high, and support at 0.6592, May 24 low.
  • AUDNZD range traded and was little changed at 1.0829. AUDJPY is 0.4% higher at 104.07. Aussie is 0.1% higher versus the euro and the pound at 0.6113 and 0.5205 respectively.
  • Equities were mixed with the S&P up 0.7%, the Euro stoxx flat but the FTSE down 0.3%. Oil prices were stronger with Brent up 0.9% to $82.10/bbl. LME metal prices fell 0.2% on Friday to be down 2% on the week. Iron ore is around $120/t.
  • There are no data or events today in Australia. The highlights of the week include Tuesday’s retail sales and Wednesday’s CPI for April.