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AUD Creeps Higher, RBA Chief's Speech Gets Under Way

FOREX

Antipodean currencies lead gains in G10 FX space, as equity benchmarks in Japan and Australia creep higher on a positive lead from Wall Street. Several major financial centres across Asia remain shut in observance of Lunar New Year holidays.

  • The Aussie dollar is the best performer, as RBA Gov Lowe begins his address on "The Year Ahead." AUD/USD has now punched through resistance from Jan 7 low of $0.7130, after testing that level on Tuesday.
  • The dollar index (DXY) remains on the back foot, but has not yet sank through yesterday's low.
  • U.S. ADP employment change, flash EZ CPI as well as comments from BoC's Macklem & Gravelle will take focus later in the day.
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