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AUD/NZD Off Lows, But A$ Still Sub 0.6500, Trade Figures Out Tomorrow

AUD

AUD/USD is drifting lower as we head towards the London cross over. The pair was last just around 0.6485/90. We above session lows (closer to 0.6470) and beyond that is yesterday's lows around the 0.6450/60 region, which could act as support. The currency is mid-range compared to the rest of the G10 performance today.

  • Similar drivers are in play from earlier in the session. Outside of a firmer USD tone, weaker US equity futures has pushed AUD/JPY back below 93.50.
  • AUD/NZD is back above 1.1300, well above earlier lows sub 1.1250. Risk aversion flows curbing the post RBNZ bounce in NZD.
  • Tomorrow, the domestic data calendar features August trade figures. The trade surplus is expected to push back up to +A$10bn, from July's +A$8.733bn. Exports are forecast at +2% (versus -10% last month), imports at -1% (+5% last month.
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