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AUDUSD Approaching 65c, RBA’s Bullock & Jobs Data Coming Up

AUD

AUDUSD is approaching 65c again after rising 0.6% to 0.6492 on Wednesday, close to the intraday high of 0.6496. Aussie has outperformed most of the G10, apart from Scandi, as the greenback gave back some of its post-CPI gains on lower yields and equities rallied. The USD index is down 0.2%.

  • The bearish theme in AUDUSD remains intact and Tuesday’s sharp move lower reinforced this. Initial support is at 0.6443 and resistance 0.6554.
  • Aussie rose strongly against the pound up 0.8% to 0.5167. AUDJPY was up 0.5% to 97.76 and AUDNZD +0.2% to 1.0672. AUDEUR is 0.4% higher at 0.6051.
  • Equities were stronger with the S&P up 1% and Euro stoxx +0.4%. Oil prices were lower with Brent down 1.5% to $81.51/bbl. Copper fell 0.3% and iron ore is close to $130/t.
  • Today RBA Governor Bullock appears before the Senate economics committee at 0900 AEDT. January labour market data, January CBA household spending insights and MI inflation expectations for February are released later.
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