A$ Underperforms And Continues Its Post-RBA Sell Off

Aussie was one of the underperformers in the G10 falling 0.3% against the greenback to 0.6579 as the RBA’s unchanged stance continued to weigh on the currency. The pair is currently little changed. The USD index rose 0.2%.

• The move last Friday above resistance at 0.6587 marked the resumption of the bull leg. Key short-term resistance is at 0.6668 while the bear trigger is at 0.6363.
• AUD strengthened against the yen rising 0.3% to 102.33. It is currently around 102.34. AUDNZD continued to trend lower falling 0.3% to 1.0959. AUDEUR is 0.2% lower at 0.6122 and AUDGBP -0.2% to 0.5265.
• Equities were generally stronger with the Euro stoxx up 0.4%, FTSE +0.5%, Dow Jones +0.4% but the S&P flat. Oil prices rose with Brent up 0.7% to $83.77/bbl. Copper fell 1.4% and iron ore is down to around $116/t.
• There are no data or events in Australia today.