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A$ Weakens On Strong US Data & Equity Sell Off

AUD

AUDUSD fell 0.4% to 0.6442 as US retail sales came in stronger than expected and drove the greenback higher as US yields rose. The pair is currently around 0.6444. The equity sell off in the US also weighed on Aussie. The USD index rose 0.2%.

  • AUDUSD broke through the bear trigger of 0.6443 to make a low of 0.6438. It is currently around this support level. A sustained move below would highlight an important short-term technical break. A breach of key resistance at 0.6668 is needed to signal a potential reversal.
  • AUDJPY is up 0.3% to 99.36. Aussie outperformed kiwi and the pair is 0.2% higher at 1.0912. AUDEUR is down 0.2% to 0.6064 though and AUDGBP -0.3% to 0.5176.
  • Equities were mixed with the S&P down 1.2% but the Euro stoxx rose 0.6%. VIX was slightly higher at 13%. Oil prices were little changed with WTI flat at $85.67/bbl. Copper rose 2.7% and iron ore is around $111-112/t.
  • There are no data or events in Australia today.
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