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AUD: A$ Struggling On Soft HK/China Equity Trading

AUD
RegionGlobalBulletAPACForeign Exchange BulletsAustraliaMarkets

AUDUSD has trended lower over today’s APAC session following Saturday’s disappointing China MOF fiscal announcement and subsequent soft equity/commodity trading in the region. AUDUSD is down 0.3% to 0.6730 off the intraday low of 0.6723. It did find support earlier from Goldman Sachs’ upward revision to China GDP forecasts and the recovery in iron ore prices. The USD index is up 0.2%.

  • Aussie is generally weaker against major currencies with AUDJPY down 0.2% to 100.45 but has been trading in a narrow range. AUDNZD is slightly higher at 1.1056 after a high of 1.1078 early in the session. AUDEUR is down 0.2% to 0.6162 and AUDGBP -0.2% to 0.5159.
  • Equities are mixed with the ASX up 0.5%, CSI 300 flat and Hang Seng down 1.7%. The S&P e-mini is 0.1% lower. Oil prices are weaker with WTI -1.7% to $74.32/bbl. Copper is down 1.6% and iron ore has partially recovered to around $106/t after falling to $104.70 on the open.
  • The Fed’s Kashkari and Waller appear but there is no US data due to a holiday. BoE’s Dhingra also speaks.
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AUDUSD has trended lower over today’s APAC session following Saturday’s disappointing China MOF fiscal announcement and subsequent soft equity/commodity trading in the region. AUDUSD is down 0.3% to 0.6730 off the intraday low of 0.6723. It did find support earlier from Goldman Sachs’ upward revision to China GDP forecasts and the recovery in iron ore prices. The USD index is up 0.2%.

  • Aussie is generally weaker against major currencies with AUDJPY down 0.2% to 100.45 but has been trading in a narrow range. AUDNZD is slightly higher at 1.1056 after a high of 1.1078 early in the session. AUDEUR is down 0.2% to 0.6162 and AUDGBP -0.2% to 0.5159.
  • Equities are mixed with the ASX up 0.5%, CSI 300 flat and Hang Seng down 1.7%. The S&P e-mini is 0.1% lower. Oil prices are weaker with WTI -1.7% to $74.32/bbl. Copper is down 1.6% and iron ore has partially recovered to around $106/t after falling to $104.70 on the open.
  • The Fed’s Kashkari and Waller appear but there is no US data due to a holiday. BoE’s Dhingra also speaks.