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AUDUSD Moves Higher As USD Continues To Soften

AUD

AUDUSD has taken another leg up during the day reaching a high of 0.6755 and is now trading around 0.6750 after 0.6733 at the NY close. The USD has weakened further during the session down another 0.25% after weak US PMIs and the FOMC minutes signalled a slowing in tightening.

  • AUD has depreciated versus the yen and is now trading around 93.78 but continues to move in a tight range between 93.7 and 94.0. AUD has been traveling broadly sideways against the kiwi, euro and pound.
  • The next level to watch for AUDUSD is 0.6797 which is the bull trigger.
  • Equity markets are higher across the board after the news overnight boosted risk sentiment. The ASX is up 0.3%, the Hang Seng +0.65% and the CSI +0.1%. E-minis are also higher +0.2%. WTI oil prices are slightly lower around $77.75/bbl after sinking overnight on news of a softer oil price cap for Russia. Iron ore reached a high of $96.90/tonne earlier and is now trading around $95.80.
  • The US is closed for Thanksgiving. But there is the German IFO in Europe and the ECB meeting accounts plus a number of ECB speakers.
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