Free Trial

AUD/USD Lower, But Support Ahead Of 0.6650, Housing Data Doesn't Impact Sentiment


AUD/USD was last around 0.6670/75, still around 0.20% off NY closing levels from last week. Still, we are up from earlier lows close to 0.6650. Markets have moved away from earlier extremes in terms of the oil price bounce and higher US yield backdrop. Brent was last around $84/bbl, versus earlier highs near $86.50/bbl, while the US 2yr yield is around 4.08% against an earlier high close to 4.10%.

  • Just released housing data was mixed. Home loans coming in at -0.9% m/m (-1.8% forecast and prior revised to -2.4% from -5.3%). Building approvals were softer though at +4.0% (10% forecast), but private sector houses were +11.3% m/m (prior -13.5%).
  • Earlier the inflation gauge confirmed that the AU inflation peak was behind us.
  • Tomorrow, the RBA cash rate is expected to be left unchanged at 3.60%.

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.