FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUD: A$ Outperforming At Start To Week As China Cuts Rates

AUD
RegionGlobalBulletAPACForeign Exchange BulletsAustraliaMarkets

Aussie is stronger in APAC trading today supported by rallying HK/China equities following the PBoC’s 10bp cut in the 14-day repo rate. AUDUSD has given up its post-rate cut gains but is still up 0.1% to 0.6816 after a high of 0.6822. The USD index is up 0.1%.

  • AUDJPY is 0.5% higher at 98.39, close to today’s high of 98.47, as the yen underperforms the rest of the G10.
  • AUDNZD is up 0.2% to 1.0937 after a high of 1.0939. AUDEUR is 0.2% higher at 0.6108 and AUDGBP +0.2% to 0.5120.
  • Equities are mixed with ASX down 0.6% but the Hang Seng up 0.6%. The S&P e-mini is up 0.3%. Oil prices are higher with WTI +0.7% to $71.147/bbl. Copper is down 0.4% and iron ore hasn’t reacted to the China stimulus and is approaching $90/t again.
  • Later the Fed’s Bostic, Goolsbee and Kashkari speak and preliminary September US/European PMIs are released. The focus in Australia is on Tuesday’s RBA announcement.
158 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Aussie is stronger in APAC trading today supported by rallying HK/China equities following the PBoC’s 10bp cut in the 14-day repo rate. AUDUSD has given up its post-rate cut gains but is still up 0.1% to 0.6816 after a high of 0.6822. The USD index is up 0.1%.

  • AUDJPY is 0.5% higher at 98.39, close to today’s high of 98.47, as the yen underperforms the rest of the G10.
  • AUDNZD is up 0.2% to 1.0937 after a high of 1.0939. AUDEUR is 0.2% higher at 0.6108 and AUDGBP +0.2% to 0.5120.
  • Equities are mixed with ASX down 0.6% but the Hang Seng up 0.6%. The S&P e-mini is up 0.3%. Oil prices are higher with WTI +0.7% to $71.147/bbl. Copper is down 0.4% and iron ore hasn’t reacted to the China stimulus and is approaching $90/t again.
  • Later the Fed’s Bostic, Goolsbee and Kashkari speak and preliminary September US/European PMIs are released. The focus in Australia is on Tuesday’s RBA announcement.