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A$ Underperforms In Face Of Safe Haven Flows

AUD

The USD is 0.1%stronger in APAC trading following increased tensions in the Middle East over the weekend. AUDUSD is down 0.3% to 0.6364, after an intraday high of 0.6381, but is off its low earlier of 0.6345.

  • Aussie is down 0.5% versus the yen due to safe haven flows. It is currently around 94.90. AUDNZD is down 0.1% to 1.0651. AUDEUR is slightly lower at 0.6026 and AUDGBP -0.1% to 0.5211.
  • Equity markets are mixed following the weekend’s developments with the ASX up 0.4% but CSI 300 down 0.3% and Strait Times -0.4%. S&P e-minis are down 0.7%. Oil prices are sharply higher with WTI up 5.2% to $87.10/bbl. Copper is up 0.8% but iron ore has sunk to $116-117/t.
  • Later the Fed’s Logan, Barr and Jefferson speak. There is no data due to the Columbus Day holiday. The ECB’s de Guindos and Enria are also scheduled to appear. IMF/World Bank annual meetings take place today and tomorrow.
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