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A$ Under Pressure As Equities & Commodities Sell Off

AUD

AUDUSD has bounced off its low of 0.6534 and is currently down 0.1% to 0.6545 after closing flat on Monday. Weak regional equities and commodity prices are weighing on the Aussie, in addition June building approvals printed well below expectations. The USD index is up 0.1% boosted by the highest USDCNY fixing since November 2023.

  • The major AUD crosses are also down slightly with AUDJPY off the intraday low of 100.58 and currently around 100.76. AUDNZD is 0.1% lower at 1.1132 are falling to 1.1128 earlier. AUDEUR is down to 0.6051 and AUDGBP flat around 0.5094.
  • Equities are generally weaker across the region with the ASX down 0.7%, Nikkei -0.8% and Hang Seng -1.3%. The S&P e-mini is 0.4% lower. Oil prices continue to decline with WTI -0.6% to $75.39/bbl. Copper is down 0.8% and iron ore has just broken below $100/t.
  • Later there are US May housing data, June JOLTS job openings and July consumer confidence and in Europe, euro area Q2 GDP, July economic sentiment and German preliminary July CPI.
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