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AUDUSD Off Highs As Local Equities Fall Sharply

AUD

AUDUSD is off its intraday highs and reached a new low on the back of weaker risk appetite. Australian equities and oil prices are both lower. AUDUSD has fallen below 0.6800 and is currently around 0.6794 after a high of 0.6806. The USD index is moving sideways.

  • Aussie has also lost ground against the majors with AUDNZD down 0.2% to 1.0936, around the mid-June low. AUDJPY is 0.2% lower 96.25. AUDEUR is down 0.1% to 0.6180 but AUDGBP is steady around 0.5322.
  • Equity markets in the region are mixed with the ASX down 1.5%, Nikkei -0.2% but Kospi up 0.5%. China & HK are closed. The S&P e-mini is 0.1% lower. Brent crude is down 0.3% to $76.92/bbl. Copper is down 0.1% but iron ore is higher at $112/t.
  • Later the BoE, Norgesbank and SNB decisions are announced. All three are expected to hike rates by 25bp. Also Fed Chair Powell appears before the Senate Banking Committee and the Fed’s Waller, Bowman, Mester and Barkin speak. There is US Chicago & Kansas indices, jobless claims and existing home sales. In Australia, the preliminary June Judo Bank PMIs print tomorrow.
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