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AUDUSD Back Above 66c As Dollar Weakens And US Equities Rally

AUD

AUDUSD rose above 66c again during the NY afternoon as the tone in equity markets improved. The pair has hovered above this level ever since to be up 0.8% on the previous close at 0.6600.The USD fell 0.6% on the back of the stronger yen and some softer US data.

  • AUDUSD’s uptrend remains in place and recent moves lower are seen as corrective. A clear break below 0.6547, 20-day EMA, would open up 0.6490, 50-day EMA. The bull trigger is at 0.6691, December 4 high.
  • AUDJPY trended lower throughout Thursday and is now down 1.5% to 94.06. Aussie has moved higher against kiwi to break above 1.07 again. It rose 0.3% to 1.0700. AUDEUR is up 0.5% to 0.6115 and AUDGBP +0.6% to 0.5244.
  • Equity markets were mixed with the S&P closing up 0.8% and the Nasdaq +1.5% but the Eurostoxx down 0.2% and the FTSE flat. Oil prices stabilised with Brent up 0.2% to $74.44/bbl. Copper is up 1.7% and iron ore is higher at over $135/t.
  • Today the RBA’s Head of Financial Stability speaks at 1320 AEDT. There is no data in Australia but the focus of the day will be on the US payrolls.
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