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AUD Gives Up Some Of Its Overnight Gains, Focus On FOMC

AUD

AUDUSD has given up some of last night’s gains and has been trending down during today’s session. It is currently trading around 0.6830, back below its bull trigger of 0.6851, after a high of 0.6865 earlier. The DXY has been trading sideways.

  • AUD is also down against EUR and GBP by 0.4% and 0.2% respectively. AUDNZD is down slightly but trading around the 1.06 mark. AUDJPY is lower at about 92.60.
  • Equity markets are stronger across the region in the wake of the lower than expected US CPI data overnight and stronger S&P. The ASX is up 0.4%, the Hang Seng 1.1% and the Nikkei 0.6%. The S&P e-mini is higher again up 0.2%. Oil prices are lower during the session with WTI down 0.6% from the NY close at just under $75/bbl. Iron ore prices have gone through $108/tonne and are now around $107.50.
  • Tonight the FOMC decision is announced and analysts expect a smaller 50bp hike. Tomorrow in Australia MI consumer inflation expectations for December and the November employment report print.
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