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AUD: AUDUSD Higher As Better Risk Appetite Pushes USD Lower, US PPI Later

AUD
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Wednesday’s trends have continued during today’s APAC trading. AUDUSD is 0.2% higher at 0.6292 driven by a weaker US dollar (USD BBDXY -0.2%) supported by more positive risk appetite from Fed Chair Powell suggesting to wait for today’s PPI following disappointing CPI data, the possibility of negotiations on US tariffs and the prospect of a Ukraine peace.

  • Australian MI inflation expectations for February jumped to 4.6% from 4.0%, which is unlikely to drive the RBA’s decision next week but may make them cautious.
  • The euro continues to benefit from optimism on a peace deal for Ukraine and AUDEUR has fallen a further 0.2% to 0.6037 today. AUDGBP is down 0.1% to 0.5041.
  • AUDJPY has range traded and is around 97.05. AUDNZD is flat at around 1.1133.
  • Equities are generally stronger with the ASX up 0.2%, Hang Seng +1.5% and S&P e-mini +0.2% but CSI 300 down 0.1%. Oil prices continued falling with WTI down 1.0% to $70.65/bbl. Copper is up 0.6% and iron ore $107-108/t.
  • Later the Fed’s Goolsbee appears and US January PPI and jobless claims print as well as UK December IP, trade, construction and preliminary Q4 GDP and euro area December IP and EC forecasts. The ECB’s Cipollone also speaks. 
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Wednesday’s trends have continued during today’s APAC trading. AUDUSD is 0.2% higher at 0.6292 driven by a weaker US dollar (USD BBDXY -0.2%) supported by more positive risk appetite from Fed Chair Powell suggesting to wait for today’s PPI following disappointing CPI data, the possibility of negotiations on US tariffs and the prospect of a Ukraine peace.

  • Australian MI inflation expectations for February jumped to 4.6% from 4.0%, which is unlikely to drive the RBA’s decision next week but may make them cautious.
  • The euro continues to benefit from optimism on a peace deal for Ukraine and AUDEUR has fallen a further 0.2% to 0.6037 today. AUDGBP is down 0.1% to 0.5041.
  • AUDJPY has range traded and is around 97.05. AUDNZD is flat at around 1.1133.
  • Equities are generally stronger with the ASX up 0.2%, Hang Seng +1.5% and S&P e-mini +0.2% but CSI 300 down 0.1%. Oil prices continued falling with WTI down 1.0% to $70.65/bbl. Copper is up 0.6% and iron ore $107-108/t.
  • Later the Fed’s Goolsbee appears and US January PPI and jobless claims print as well as UK December IP, trade, construction and preliminary Q4 GDP and euro area December IP and EC forecasts. The ECB’s Cipollone also speaks.