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AUD: AUD Holding Recent Ranges, RBA Deputy Gov Fireside Chat Today

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AUD/USD was mostly range bound between 0.6700/0.6720 post the Asia close on Friday. We track near the mid-point of this range in early Monday Asia Pac dealings. The A$ ended Friday's session with a modest 0.15% gain, as broader USD sentiment softened (BBDXY down 0.24%). 

  • AUD gains are considered corrective from a technical standpoint. The 20-day EMA sits higher at 0.6757, while key downside support is 0.6622 the Sep 11 low (before that the Oct 16 low rest at 0.6658).
  • A tick down in US yields, led by the front end on Friday, helped AUD sentiment at the margins. Global equity sentiment was mostly positive as well, with the SPX up (0.40%), Nasdaq +0.63%).
  • The Bloomberg aggregate commodity index was off slightly, with oil prices lower on Friday. The Bloomberg metals sub index rose 1.18%, with China related asset sentiment more positive (CSI 300 up 3.62% on Friday). Iron ore is softer though back near $101/ton.
  • The data calendar is quiet to start the week, while RBA Deputy Governor appears in a fireside chat at 12pm AEDT. 
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AUD/USD was mostly range bound between 0.6700/0.6720 post the Asia close on Friday. We track near the mid-point of this range in early Monday Asia Pac dealings. The A$ ended Friday's session with a modest 0.15% gain, as broader USD sentiment softened (BBDXY down 0.24%). 

  • AUD gains are considered corrective from a technical standpoint. The 20-day EMA sits higher at 0.6757, while key downside support is 0.6622 the Sep 11 low (before that the Oct 16 low rest at 0.6658).
  • A tick down in US yields, led by the front end on Friday, helped AUD sentiment at the margins. Global equity sentiment was mostly positive as well, with the SPX up (0.40%), Nasdaq +0.63%).
  • The Bloomberg aggregate commodity index was off slightly, with oil prices lower on Friday. The Bloomberg metals sub index rose 1.18%, with China related asset sentiment more positive (CSI 300 up 3.62% on Friday). Iron ore is softer though back near $101/ton.
  • The data calendar is quiet to start the week, while RBA Deputy Governor appears in a fireside chat at 12pm AEDT.