AUD: A$ Underperforms On Softer Risk Appetite

Aussie underperformed driven by lacklustre equity and commodity performance. It has added to its losses post Thursday’s disappointing Australian jobs data. AUDUSD fell to 0.6258 on Friday and then recovered slightly as US equities rallied. It was down 0.5% to 0.6271 and has started today slightly higher. The USD index rose 0.3% with all of the G10 lower against the greenback except NOK.

• AUDUSD fell 0.8% last week affirming the short-term bullish theme. Initial support is at 0.6259, 11 March low, with key support at 0.6088. The bull trigger is at 0.6409, 21 February high.
• Kiwi also underperformed the G10, except for the AUD, with NZDUSD down 0.4% to 0.5732 and has started today around 0.5734. AUDNZD is down 0.1% to 1.0940 off the intraday low of 1.0913.
• AUDJPY fell 0.1% to 93.66 after reaching 93.16. It has started the session slightly higher at 93.70.
• The euro was one of the better G10 performers leaving AUDEUR down 0.2% to 0.5798 but still above March 11’s 0.5741 low. AUDGBP was down 0.1% to 0.4855 and falling to 0.4848.
• After a weak start, the S&P finished up 0.1% while Euro stoxx fell 0.5%. Oil prices are slightly higher with Brent +0.2% to $72.11/bbl. Copper fell 0.2% and iron ore is around $100/t.
• Today preliminary March S&P Global PMIs print.