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A$ Underperforms, 50-day EMA At 0.6701 Close-By

AUD

AUD/USD is comfortably the weakest performer in G10 FX so far in the Friday session. We sit close to session lows, last in the 0.6715/20 region, which is around 0.60% lower for the session.

  • We have broken the 20-day EMA (0.6735), with the 50-day coming in close to 0.6700.
  • The risk averse mood in equities is a clear catalyst, although HK equities are slightly above session lows. US equity futures continue to edge down, last -0.35% for Eminis.
  • Higher USD/CNH levels, with this pair above 7.2200, will also be weighing. AUD/JPY is down but has found some support sub 96.00, last in the 96.05/10 region.
  • In the commodity space, we are seeing lower levels for oil, iron ore and copper, although losses aren't large at this stage.
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