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AUD Pressured As RBA Leaves Cash Rate On Hold

FOREX

The AUD is the weakest performer in the G-10 space at the margins after the RBA left the cash rate on hold at 4.10%.

  • AUD/USD is down ~0.8% sitting at session lows, last printing at $0.6660/65. The pair remains above support at $0.6619, low from Jul 7, and $0.6596 low from Jun 29 and key support.
  • Kiwi marginally extended session lows after weakness in AUD spilled over. NZD/USD has been pressured through the session, extending losses after weaker than forecast Caixin Mfg PMI print from China.
  • USD/JPY has firmed ~0.3%, the pair is through yesterday's highs. Resistance comes in at ¥142.98, top of bull channel drawn from Jan 16 low.
  • Elsewhere in G-10, GBP and EUR are down ~0.1%.
  • Cross asset wise; BBDXY is up ~0.2% and US Tsy Yields are a touch lower. E-minis are marginally firmer however ranges have been narrow in Asia.
  • A slew of data from the US including JOLTS Job Openings and ISM Mfg provide the highlight on Tuesday.
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