A$ Underperforming On Risk Pullback & RBA Comments

Aussie has underperformed today during the APAC session so far. It has been hit by not just a stronger greenback (USD index +0.1%) but also comments from RBA governor Bullock that Q3 CPI was as expected by the central bank. AUDUSD is currently down 0.3% at 0.6288 but off its intraday low of 0.6276, a brief break below the bear trigger of 0.6286.

• AUDNZD is down only slightly to 1.0865 and has been range trading. AUDJPY is 0.3% lower at 94.49 but off the low of 94.25. AUDEUR is down 0.2% to 0.5957 and AUDGBP -0.2% to 0.5200, but broke 0.5200 earlier reaching a low of 0.5192.
• Equity markets are generally lower across the region with the ASX down 1% and the Nikkei -1.7% but Hang Seng is up 0.5%. Oil prices are down 0.2% after rising about 2% on Wednesday. Brent is around $89.98/bbl. Copper is up 0.1% and iron ore around $117/t.
• Later Fed’s Waller gives opening remarks and in terms of data there is Q3 GDP which is expected to be strong, September durable orders and jobless claims. The ECB meets and is expected to leave rates unchanged (see MNI ECB Preview). The decision will be followed by President Lagarde’s press conference.