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A$ Underperforms As Equities Sell Off

AUD

Aussie underperformed the G10 ex kiwi on Monday due to a deterioration in risk appetite. Equity markets and many commodities were lower. AUDUSD fell 0.4% to 0.6539, off the intraday low of 0.6531 (lowest since February 20). The USD index was down 0.1%.

  • The downtrend in AUDUSD that started December 28 remains intact. A clear break above the 50-day EMA at 0.6576 is required for a stronger recovery. The bear trigger is at 0.6443.
  • AUDNZD reached a high of 1.0634 during yesterday’s APAC session but then trended back below 1.06 through European/NY trading to a low of 1.0576. It is currently around 1.0594.
  • AUDJPY is down 0.2% to 98.54. AUDEUR is 0.7% lower at 0.6026 and AUDGBP -0.5% to 0.5156.
  • Equities sold off with the S&P down 0.4% and the Euro stoxx -0.2%. Oil prices rose with Brent up 1.1% to $82.55/bbl. Copper is down 1.6% and iron ore is lower at around $114/t.
  • There are no data or events in Australia today.
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