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AUD: AUDUSD Partially Recovered From CPI Data, Broke Above 69c Earlier

AUD
RegionGlobalBulletAPACForeign Exchange BulletsAustraliaMarkets

AUDUSD dropped on the August CPI data to 0.6882 from 0.6897 and is currently trading around 0.6894 to be little changed. Early in the session it rose above 69c to a peak of 0.6908 as the rally following China’s monetary easing continued. The USD index is down 0.1%. 

  • Headline CPI printed in line with consensus at 2.7% y/y with the trimmed mean easing 0.4pp to 3.4%. Yesterday RBA Governor Bullock said that services are the “crux of the matter” and in August they moderated only 0.2pp and are still up 4.2% y/y.
  • Aussie has seen the largest move against the yen today but AUDJPY has still been range trading. It is up 0.2% to 98.87 after a high of 98.90.
  • AUDNZD is down 0.1% to 1.0863 after a low of 1.0850 following the Australian CPI data. AUDEUR is 0.1% lower at 0.6158 and AUDGBP little changed at 0.5136.
  • While regional equity markets are generally stronger with the CSI 300 +3.4% and Hang Seng +2.5%, the S&P e-mini is down 0.2% and the ASX is -0.1%. Oil prices are lower with WTI -0.3% to $71.31/bbl but copper up 0.7% and iron ore is around $98/t, supported by China’s stimulus.
  • Later the Fed’s Kugler speaks on the economic outlook and US August new home sales and French September consumer confidence print. BoE’s Greene also appears.
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AUDUSD dropped on the August CPI data to 0.6882 from 0.6897 and is currently trading around 0.6894 to be little changed. Early in the session it rose above 69c to a peak of 0.6908 as the rally following China’s monetary easing continued. The USD index is down 0.1%. 

  • Headline CPI printed in line with consensus at 2.7% y/y with the trimmed mean easing 0.4pp to 3.4%. Yesterday RBA Governor Bullock said that services are the “crux of the matter” and in August they moderated only 0.2pp and are still up 4.2% y/y.
  • Aussie has seen the largest move against the yen today but AUDJPY has still been range trading. It is up 0.2% to 98.87 after a high of 98.90.
  • AUDNZD is down 0.1% to 1.0863 after a low of 1.0850 following the Australian CPI data. AUDEUR is 0.1% lower at 0.6158 and AUDGBP little changed at 0.5136.
  • While regional equity markets are generally stronger with the CSI 300 +3.4% and Hang Seng +2.5%, the S&P e-mini is down 0.2% and the ASX is -0.1%. Oil prices are lower with WTI -0.3% to $71.31/bbl but copper up 0.7% and iron ore is around $98/t, supported by China’s stimulus.
  • Later the Fed’s Kugler speaks on the economic outlook and US August new home sales and French September consumer confidence print. BoE’s Greene also appears.