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AUDUSD Approaches 65c, Q4 Current Account Coming Up

AUD

AUDUSD trended lower over the day and tested 65c, as equity performance was mixed and US yields rose. AUDUSD is down 0.3% to 0.6508, close to the intraday low. The USD index is down slightly.

  • The downtrend in AUDUSD remains intact with the bear trigger at 0.6443, February 13 low. A clear break of 0.6565, 50-day EMA, is needed to allow a stronger recovery.
  • AUDNZD moved lower through the European/US sessions and is now around 1.0684. AUDJPY is unchanged at 97.96. AUDEUR is 0.4% lower and broken below 0.6000 at 0.5995. AUDGBP is down 0.5% to 0.5130.
  • Equity markets were mixed with the S&P down 0.1%, FTSE -0.6% but Euro stoxx up 0.4%. Oil prices fell with Brent down 0.9% to $82.82/bbl. Copper is 0.1% lower and iron ore is around $117/t.
  • Today the Q4 current account and net export contribution data print, as well as government finances and final February Judo Bank PMIs.
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