Free Trial

AUD: AUDUSD Range Trading, Looks Through Data

AUD

Despite a large amount of Australian data printing today Aussie is little changed with weaker US equity futures offset by stronger HK/China equities and commodities. AUDUSD has been in a narrow range between 0.6564 and 0.6577 and is currently around 0.6570. The A$ is weaker against the yen though. The USD index is slightly higher.

  • AUDJPY is down 0.2% to 100.59 after the BoJ left policy unchanged but sees upside risks to prices in FY25. Further tightening is likely although the timing is uncertain. The pair has also been range trading.
  • AUDEUR is up to 0.6055, after an intraday high of 0.6062, while AUDGBP +0.1% to 0.5074. AUDNZD fell below 1.10 again to a low of 1.0985 but is now around 1.10 again.
  • Australian data today were mixed with trade prices pointing to another deterioration in the terms of trade but real retail sales positive for the first time in 2024 and building approvals recovering, while private credit growth remains solid.
  • Equities are mixed with ASX down 0.2% and Nikkei -0.4% but Hang Seng up 0.7%. The S&P e-mini is down 0.4%. Oil prices are moderately higher with WTI up 0.5% to $68.97/bbl. Copper is up 0.3% and iron ore is up to above $104/t.
  • Later US Q3 ECI, September PCE prices, personal income/spending, October job cuts and jobless claims are released. Also euro area October preliminary CPI and German September retail sales print. 
230 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.

Despite a large amount of Australian data printing today Aussie is little changed with weaker US equity futures offset by stronger HK/China equities and commodities. AUDUSD has been in a narrow range between 0.6564 and 0.6577 and is currently around 0.6570. The A$ is weaker against the yen though. The USD index is slightly higher.

  • AUDJPY is down 0.2% to 100.59 after the BoJ left policy unchanged but sees upside risks to prices in FY25. Further tightening is likely although the timing is uncertain. The pair has also been range trading.
  • AUDEUR is up to 0.6055, after an intraday high of 0.6062, while AUDGBP +0.1% to 0.5074. AUDNZD fell below 1.10 again to a low of 1.0985 but is now around 1.10 again.
  • Australian data today were mixed with trade prices pointing to another deterioration in the terms of trade but real retail sales positive for the first time in 2024 and building approvals recovering, while private credit growth remains solid.
  • Equities are mixed with ASX down 0.2% and Nikkei -0.4% but Hang Seng up 0.7%. The S&P e-mini is down 0.4%. Oil prices are moderately higher with WTI up 0.5% to $68.97/bbl. Copper is up 0.3% and iron ore is up to above $104/t.
  • Later US Q3 ECI, September PCE prices, personal income/spending, October job cuts and jobless claims are released. Also euro area October preliminary CPI and German September retail sales print.