Free Trial

AUD/USD Falters On Firmer USD Tone, RBA Coming Up Later


AUD/USD is drifting lower, in line with softer tones elsewhere against the USD. The pair last sat close to 0.6700. This is around mid-range in terms of recent ranges, with lows from last Thursday around 0.6620/25 against recent highs at 0.6820/25.

  • The weaker than expected China Caixin manufacturing PMI has likely weighed, although regional equities are still mostly trading with a positive bias, as are US futures.
  • AUD/JPY is largely holding onto Monday gains, the pair last close to 95.60, although there is selling interest above 95.80 in terms of recent dealings.
  • On the data front, earlier we had June home loans fall -1.0%, (+1.8% forecast), while building approvals fell -7.7% (close to the -8.0% forecast). The data didn't impact sentiment though.
  • Coming up in a few hours is the RBA decision. It remains a close call, with market pricing roughly a 33% chance of a 25bps hike today.

To read the full story



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.