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AUD Softens In Tandem With U.S. Equities

AUSSIE

AUD/USD headed higher as the ECB monetary policy decision announcement weighed on the greenback, but wiped out gains thereafter, amid lingering defensive flows. Equity markets provided a cue, as U.S. indices resumed declines with tech sector underperforming again.

  • Domestic news flow has revolved around a political crisis in NSW as Liberal Premier Gladys Berejiklian giving National ministers a 09:00 deadline to decide whether they want to remain in the Cabinet or move to the crossbench.
  • Late doors on Thursday, Chinese Foreign Ministry commented on Canberra's actions in sheltering two Australian reporters in China, calling it a diplomatic overstep and interference in China's internal affairs.
  • AUD/USD has added 9 pips thus far and last deals at $0.7267. A break above Sep 10 high of $0.7325 would open up Sep 3 high of $0.7340. Conversely, a fall through Sep 9 low of $0.7192 is needed to expose Aug 20 low of $0.7136.
  • With nothing of note on Australia's docket today, focus turns to next week. RBA Sep MonPol meeting minutes and house price index are due Tuesday, while labour market report comes out Thursday.
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