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AUDUSD Dips Supported, Tight Ranges Overall

AUD

AUDUSD has trended gently lower over the morning session, but is now little changed from NY closing levels, last around 0.6700. Earlier lows were seen close to 0.6685, after US equities finished the day weaker. A rebound in HK/China equities has added the A$ recovery. The RBA minutes contained little new information and so didn’t move the AUD and neither did weaker-than-expected data out of China.

  • AUD has lost ground against the kiwi and is now around 1.0975 but has gained versus the yen at 93.98. It is stable against the euro.
  • The ASX is down 0.3% on the day but is off its intra-day lows, as the Hang Seng is picking up strongly (+1.5%). US e-minis are also up 0.3%. The CSI 300 is flat after being down.
  • Iron ore prices are slightly higher at around $93, with positive news for China’s property sector being offset by weaker IP data. Oil prices have been trading sideways on little energy market news.
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