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AUDUSD Moving Sideways Ahead Of Tuesday’s RBA Meeting

AUD

AUDUSD has been trading sideways during the APAC session today. It is currently around 0.6615 after a high of 0.6623. The USD index is 0.2% higher.

  • Aussie is up against most of the major crosses with AUDNZD +0.2% to 1.0712. AUDJPY is 0.4% higher at 90.50. AUDEUR is up 0.1% to 0.6012 while AUDGBP is flat at around 0.5266.
  • The MI inflation gauge for April rose to 6.1% y/y from 5.7%.
  • Most markets are closed in Asia today but the Nikkei is up 0.7% and the ASX +0.5% but NZX is down 0.2%. The S&P e-minis are close to flat. Oil prices are lower after rallying on Friday ahead of the expected Fed hike on Wednesday and following the disappointing China manufacturing PMI which fell below 50. WTI is down 0.7% to $76.14/bbl. Copper is down 0.3%.
  • Europe and the UK will also be shut today. Later there are the US manufacturing ISM and PMI for April and construction data. The focus for the AUD is Tuesday’s RBA meeting, where rates are generally expected to be unchanged at 3.6%.
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