AUD/USD Back Above 0.6600, Consumer & Business Sentiment Out Today

AUD/USD was mostly on the front foot post the Asia close on Monday. We track above 0.6600 in early Tuesday dealings, close to intra-session highs from Monday NY trade. Highs from last week near 0.6620 remain intact though. Yesterday's lows in AUD/USD were around 0.6560, with the currency finding support ahead of the 50-day EMA near this level. Upside focus is on the March 21 high at 0.6635.

• The currency gained close to 0.40% for Monday's session, amid generally positive risk on sentiment in the G10 space, as JPY and CHF lagged. The BBDXY edged down slightly to 1241 (off 0.14%).
• US yields were mostly higher, led by the front end, 2yr to fresh highs back 4.79%, fresh highs back to Nov last year. The 10yr got to 4.46%, also fresh multi month highs, but finished up near 4.42%. US data flow was light, but we do have the CPI on Wed and Fed Mins on Thurs.
• Equity sentiment was positive in EU but flat in the US. The aggregate Bloomberg commodity index rose for the 7th straight session, up 0.37%. The metals sub index was up a further 0.75%, lending additional support to the A$. Iron ore recovered further to be back above $105/ton.
• On the data front today we have the Westpac consumer confidence and NAB business conditions print.
• Note in the option expiry space, we have the following for NY cut later $0.6615-30(A$1.5bln).