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A$ Trending Down On Risk Pullback

AUD

AUDUSD has been trending down during today’s APAC session. It is currently 0.2% lower than Friday’s finish at around 0.6903, close to the intraday low, as equity markets are down. The USD DXY is up 0.1%.

  • AUDUSD remains above initial support of 0.6956. It reached an intraday high of 0.6940. AUDNZD is down slightly at 1.0963 while AUDJPY is stable at around 90.94. Aussie is down 0.1% against both the euro and pound at 0.6472 and 0.5732 respectively.
  • Equity markets are down across the region despite the US rising on Friday. The ASX is down 0.2% and Hang Seng -1.3%. The risk off move has seen commodities fall as well. WTI is down 1.1% to under $79/bbl after rising over 2% on Friday. Copper prices are down 0.5% and iron ore almost $2 to $122/t.
  • Later the focus is likely to be on Fed Governor Bowman ahead of US CPI on Tuesday, as data is scarce. Tomorrow in Australia Westpac consumer sentiment and the NAB business survey are released.
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