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A$ Weaker Vs Kiwi, Stronger Vs Yen, Unchanged Vs USD

AUD
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AUDUSD was little changed on Wednesday after the soft Q1 GDP print and is currently around 0.6649. The pair fell to a low of 0.6626 following the stronger-than-expected US services ISM but then recovered supported by stronger equities. The USD index was slightly lower.

  • The AUDUSD bull cycle remains intact. Initial support is at 0.6595, 50-day EMA, while the bull trigger is at 0.6714.
  • AUDNZD continued to trend lower and is down 0.3% to 1.0737, close to the intraday low. AUDJPY rose 0.8% to 103.78 as the risk on tone hurt the yen. AUDEUR rose 0.1% to 0.6116 but AUDGBP fell 0.2% to 0.5199.
  • Equities were stronger with the S&P up 1.2% and the Euro stoxx +1.7%. Oil prices recovered somewhat with WTI up 1.4% to $74.33/bbl. Copper is 2% stronger and iron ore is around $107/t.
  • Today housing finance and trade data for April print with loans expected to rise 1.5% m/m and the trade surplus to widen.
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AUDUSD was little changed on Wednesday after the soft Q1 GDP print and is currently around 0.6649. The pair fell to a low of 0.6626 following the stronger-than-expected US services ISM but then recovered supported by stronger equities. The USD index was slightly lower.

  • The AUDUSD bull cycle remains intact. Initial support is at 0.6595, 50-day EMA, while the bull trigger is at 0.6714.
  • AUDNZD continued to trend lower and is down 0.3% to 1.0737, close to the intraday low. AUDJPY rose 0.8% to 103.78 as the risk on tone hurt the yen. AUDEUR rose 0.1% to 0.6116 but AUDGBP fell 0.2% to 0.5199.
  • Equities were stronger with the S&P up 1.2% and the Euro stoxx +1.7%. Oil prices recovered somewhat with WTI up 1.4% to $74.33/bbl. Copper is 2% stronger and iron ore is around $107/t.
  • Today housing finance and trade data for April print with loans expected to rise 1.5% m/m and the trade surplus to widen.