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AUDUSD In Bullish Phase, Retail Sales Coming Up

AUD

Aussie was one of the better G10 performers on Monday helped by generally stronger stock markets. AUDUSD reached a high of 0.6587 in late Asian trading and after moderating range traded around 0.6560. It is up 0.5% to 0.6566. The USD index fell 0.4% due to a sharp strengthening in the yen.

  • AUDUSD continues its bullish phase breaching 0.6526, 50-day EMA, opening up 0.6644, April 9 high. The bear trigger is at 0.6363, April 19 low.
  • AUDJPY peaked at 104.94 during yesterday’s APAC session and then fell sharply to 101.38 on speculation of official Japanese intervention. It then levelled out at around 102.50. The pair fell 0.9% and is currently around 102.50.
  • AUDNZD is 0.1% lower at 1.0986 falling below 1.1000 in early European trading. AUDEUR rose 0.2% to 0.6125 and AUDGBP is down slightly to 0.5227.
  • Equities were generally stronger with the S&P up 0.3%, FTSE +0.1% but Euro stoxx down 0.5%. Oil prices are lower with Brent down 1.1% to $87.20/bbl. Copper rose 2.2% and iron ore is around $117/t.
  • March retail sales and RBA private credit data are released today.
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