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AUD: Aussie Struggles To Find Support As US Yields Rise, AUDUSD Below 66c

AUD
RegionGlobalBulletAPACForeign Exchange BulletsAustraliaMarkets

AUDUSD fell 0.5% to 0.6604 on Friday and has continued the downtrend during APAC trading today as US yields continue to rise. The pair has broken below 66c and is currently down another 0.1% to 0.6598 after a low of 0.6595 and reaching 0.6625 earlier. Soft commodity prices and mixed HK/China equities are also likely weighing on Aussie. The USD index is 0.2% higher. 

  • Aussie is stronger against the yen, as increased Japanese political uncertainty following elections has pressured the yen. AUDJPY is up 0.9% to 101.50, close to the intraday high.
  • AUDNZD is little changed at 1.1052. AUDEUR is lower at 0.6115 and AUDGBP is down slightly to 0.5093.
  • Equities are mixed with the ASX up 0.1% and Nikkei +1.3% but Hang Seng down 0.1% and CSI 300 -0.8%. The S&P e-mini is 0.5% higher though. Oil prices are down sharply after Iran and Israel implied that neither wants to escalate the conflict. WTI is down 4.5% to $68.56/bbl. Copper is 0.3% lower and iron ore is around $103/t.
  • There are few events or data today. The October US Dallas Fed manufacturing index and Spain’s September retail sales print. The ECB’s de Guindos speaks. 
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AUDUSD fell 0.5% to 0.6604 on Friday and has continued the downtrend during APAC trading today as US yields continue to rise. The pair has broken below 66c and is currently down another 0.1% to 0.6598 after a low of 0.6595 and reaching 0.6625 earlier. Soft commodity prices and mixed HK/China equities are also likely weighing on Aussie. The USD index is 0.2% higher. 

  • Aussie is stronger against the yen, as increased Japanese political uncertainty following elections has pressured the yen. AUDJPY is up 0.9% to 101.50, close to the intraday high.
  • AUDNZD is little changed at 1.1052. AUDEUR is lower at 0.6115 and AUDGBP is down slightly to 0.5093.
  • Equities are mixed with the ASX up 0.1% and Nikkei +1.3% but Hang Seng down 0.1% and CSI 300 -0.8%. The S&P e-mini is 0.5% higher though. Oil prices are down sharply after Iran and Israel implied that neither wants to escalate the conflict. WTI is down 4.5% to $68.56/bbl. Copper is 0.3% lower and iron ore is around $103/t.
  • There are few events or data today. The October US Dallas Fed manufacturing index and Spain’s September retail sales print. The ECB’s de Guindos speaks.