Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

AUD Outperforms, USD Moderately Pressured

FOREX

The AUD is the strongest performer in the G-10 at the margins, benefiting from improved risk sentiment as regional equities firm and US Treasury Yields tick lower today. The USD is moderately pressured, BBDXY is down ~0.1%.

  • AUD/USD prints at $0.6690/95 ~0.4% firmer in todays dealing. The aussie has looked through weakness in Iron Ore prices, futures in Singapore fell ~2.5% to $120/tonne as Chinese steel demand has not picked up despite peak construction season approaching.
  • AUD/NZD printed its highest level since 10 March and sits a touch below the $1.08 handle.
  • Kiwi is marginally firmer, NZD/USD was pressured after Westpac lowered its 2022-23 NZ milk price forecast to $8.4/kg. However the improving risk sentiment saw the pair firm off session lows to sit ~0.1% higher at $0.6200/05.
  • USD/JPY was offered after testing resistance at ¥132.65 the high from 20 March. The pair fell ~0.4% from peak to trough before marginally paring losses to deal at ¥132.45/50.
  • GBP is marginally firmer up ~0.1% benefiting from the moderate USD pressure. EUR is little changed and has observed narrow ranges in Asia.
  • Cross asset wise, Hang Seng is ~2% firmer and e-minis are up ~0.1%. US Treasury Yields are softer, the 10 Year Yield is down ~2bps.
  • In Europe today UK CPI provides the headline. However, the Fed rate decision and Powell's post meeting press conference are today's highlight, our preview is here.
225 words

To read the full story

Why Subscribe to

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.

The AUD is the strongest performer in the G-10 at the margins, benefiting from improved risk sentiment as regional equities firm and US Treasury Yields tick lower today. The USD is moderately pressured, BBDXY is down ~0.1%.

  • AUD/USD prints at $0.6690/95 ~0.4% firmer in todays dealing. The aussie has looked through weakness in Iron Ore prices, futures in Singapore fell ~2.5% to $120/tonne as Chinese steel demand has not picked up despite peak construction season approaching.
  • AUD/NZD printed its highest level since 10 March and sits a touch below the $1.08 handle.
  • Kiwi is marginally firmer, NZD/USD was pressured after Westpac lowered its 2022-23 NZ milk price forecast to $8.4/kg. However the improving risk sentiment saw the pair firm off session lows to sit ~0.1% higher at $0.6200/05.
  • USD/JPY was offered after testing resistance at ¥132.65 the high from 20 March. The pair fell ~0.4% from peak to trough before marginally paring losses to deal at ¥132.45/50.
  • GBP is marginally firmer up ~0.1% benefiting from the moderate USD pressure. EUR is little changed and has observed narrow ranges in Asia.
  • Cross asset wise, Hang Seng is ~2% firmer and e-minis are up ~0.1%. US Treasury Yields are softer, the 10 Year Yield is down ~2bps.
  • In Europe today UK CPI provides the headline. However, the Fed rate decision and Powell's post meeting press conference are today's highlight, our preview is here.