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AUD: AUDUSD Higher As Risk Appetite Improves Despite Lack Of China Tariff Deal

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AUDUSD fell to a low of 0.6171 following news that the US and China had not come to an agreement on tariffs. The pair then began to recover and continued through the rest of Tuesday’s trading to be up 0.5% to 0.6256, close to the intraday high, helped by improving risk appetite as markets relaxed on the tariff situation. President Trump doesn’t seem concerned by China’s retaliation and will speak to President Xi “at the right time”. The USD index fell 0.7%.

  • AUDUSD maintains a bearish trend despite yesterday’s recovery. It found some support around 0.6200. Initial support is at 0.6088, February 3 low, while resistance is at 0.6263, January 31 high.
  • AUDJPY is up 0.2% to 96.54 after falling to 95.58 following the China news. AUDNZD rose 0.1% to 1.1075. AUDEUR is 0.1% higher at 0.6026 after a low of 0.5997. AUDGBP is up 0.2% to 0.5013 following a trough of 0.4983.
  • Equities generally rallied with the S&P up 0.7% and Euro stoxx +0.9% but the FTSE fell 0.2%. Brent was little changed at $76.00/bbl but WTI fell 0.8% to $72.57/bbl. Copper rose 1.4% and iron ore is higher at around $105.50/t.
  • Final January S&P Global composite/services PMIs print. The preliminary and December data signalled slight growth in activity. 
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AUDUSD fell to a low of 0.6171 following news that the US and China had not come to an agreement on tariffs. The pair then began to recover and continued through the rest of Tuesday’s trading to be up 0.5% to 0.6256, close to the intraday high, helped by improving risk appetite as markets relaxed on the tariff situation. President Trump doesn’t seem concerned by China’s retaliation and will speak to President Xi “at the right time”. The USD index fell 0.7%.

  • AUDUSD maintains a bearish trend despite yesterday’s recovery. It found some support around 0.6200. Initial support is at 0.6088, February 3 low, while resistance is at 0.6263, January 31 high.
  • AUDJPY is up 0.2% to 96.54 after falling to 95.58 following the China news. AUDNZD rose 0.1% to 1.1075. AUDEUR is 0.1% higher at 0.6026 after a low of 0.5997. AUDGBP is up 0.2% to 0.5013 following a trough of 0.4983.
  • Equities generally rallied with the S&P up 0.7% and Euro stoxx +0.9% but the FTSE fell 0.2%. Brent was little changed at $76.00/bbl but WTI fell 0.8% to $72.57/bbl. Copper rose 1.4% and iron ore is higher at around $105.50/t.
  • Final January S&P Global composite/services PMIs print. The preliminary and December data signalled slight growth in activity.