Free Trial

AUD Firms After RBA Minutes, China GDP

FOREX

The AUD is the strongest performer in the G-10 space at the margins. The AUD firmed after the minutes of the April RBA meeting left the door open for more tightening, with gains marginally extended as Chinese GDP was firmer than expectations.

  • AUD/USD prints at $0.6715/20 ~0.2% firmer today. March Household Spending rose 8.0% up from a fall of -0.1% in February. Bulls target a break of the 50-Day EMA ($0.6736), on the downside support is seen at $0.6620 the low from April 10.
  • Kiwi is also firmer, however NZD/USD has been mostly rangebound against USD respecting a $0.6180/95 range in today's Asian session.
  • Yen is little changed from yesterdays closing levels. USD/JPY did briefly break Monday's high before gains were pared to sit at ¥134.40/50.
  • Elsewhere in G-10 ranges have been narrow with little follow through on moves.
  • Cross asset flows remain muted, US Treasury Yields are ~1bp softer and e-minis are flat. BBDXY is also little changed.
  • In Europe today we have UK Unemployment and the German ZEW Survey. Further out US House Starts and Canadian CPI will cross.

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.