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AUD: A$ Underperforms But Uptrend Intact, RBA Minutes & Hauser Coming Up

AUD
RegionGlobalBulletAPACForeign Exchange BulletsAustraliaMarkets

Aussie underperformed driven by weaker US equities and found little support from rising iron ore prices. AUDUSD trended lower through the European/US sessions to be down 0.6% to 0.6757 after a low of 0.6743. It is currently around 0.6757, below initial support at 0.6759. The USD index was flat on the day.

  • The AUDUSD uptrend persists though and recent weakness is a short-term corrective cycle. Monday’s low was below the 50-day EMA at 0.6752 and a clear break of this would undermine the bullish theme. The bull trigger is at 0.6942, September 30 high.
  • Risk-averse yen and Swiss franc outperformed, leaving AUDJPY down 0.9% to 100.13. The pair is now around 100.13.
  • AUDEUR was 0.5% lower at 0.6157 and AUDGBP -0.2% to 0.5165. AUDNZD was unchanged at 1.1033 after a high of 1.1055.
  • Equities were mixed with Euro stoxx up 0.3% but the S&P down 1%. Oil prices continued to rally with Brent +4% to $81.14/bbl. Copper fell 0.4% and iron ore rose to around $114/t.
  • Today October Westpac consumer confidence, September NAB business confidence and ANZ-Indeed job ads print. RBA minutes from the October meeting are published and Deputy Governor Hauser speaks at 1200 AEDT. 
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Aussie underperformed driven by weaker US equities and found little support from rising iron ore prices. AUDUSD trended lower through the European/US sessions to be down 0.6% to 0.6757 after a low of 0.6743. It is currently around 0.6757, below initial support at 0.6759. The USD index was flat on the day.

  • The AUDUSD uptrend persists though and recent weakness is a short-term corrective cycle. Monday’s low was below the 50-day EMA at 0.6752 and a clear break of this would undermine the bullish theme. The bull trigger is at 0.6942, September 30 high.
  • Risk-averse yen and Swiss franc outperformed, leaving AUDJPY down 0.9% to 100.13. The pair is now around 100.13.
  • AUDEUR was 0.5% lower at 0.6157 and AUDGBP -0.2% to 0.5165. AUDNZD was unchanged at 1.1033 after a high of 1.1055.
  • Equities were mixed with Euro stoxx up 0.3% but the S&P down 1%. Oil prices continued to rally with Brent +4% to $81.14/bbl. Copper fell 0.4% and iron ore rose to around $114/t.
  • Today October Westpac consumer confidence, September NAB business confidence and ANZ-Indeed job ads print. RBA minutes from the October meeting are published and Deputy Governor Hauser speaks at 1200 AEDT.