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​AUD/USD Down From Earlier ​​​​Highs, But Avoiding Test Of 0.6670 For Now

AUD

The AUD is mostly following broader USD trends today. The currency briefly moved above 0.6700 earlier, but we are now back to a 0.6685/90 level. This is only slightly down on NY closing levels, while we haven't tested overnight lows yet (0.6675/80) or 0.6670, which is another recent low.

  • Cross asset signals are negative in the equity space, with regional bourses lower and US futures struggling to stay in positive territory.
  • In the commodity space, copper is slightly lower (-0.40% for CMX), while iron ore is underneath $95/tonne.
  • The AU-US 2yr spread is up slightly from recent wides, at -78bps, which is around +5bps firmer for the session.
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