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AUD: AUDUSD Off Today’s Highs On Lacklustre Equity Performance

AUD
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AUDUSD is off its intraday high of 0.6334 to be slightly higher at 0.6323 as lacklustre equity performance weighs on risk-sensitive Aussie. The USD index is off today’s low but still moderately down.

  • Melbourne Institute consumer inflation expectations fell 1pp in March to 3.6%, the lowest reading since the pandemic era.
  • Aussie is also little changed against the major crosses with AUDJPY up moderately to 93.72 but off the intraday high of 93.94. AUDNZD is slightly lower at 1.1027. AUDEUR is higher at 0.5807 but off the high of 0.5818 and AUDGBP is around 0.4877 after rising to 0.4885.
  • Equities are mixed with the ASX down 0.1% and Hang Seng -0.2% and the CSI 300 and S&P e-mini flat. After rising over the last two days, oil prices are moderately lower with WTI -0.2% to $67.54/bbl. Copper is down 0.1% and iron continues to be around $102/t.
  • RBA Assistant Governor (Financial System) Jones speaks at 1330 AEDT at the IIF forum.
  • Later US February PPI and jobless claims print. The ECB’s Lagarde and de Guindos appear and January euro area IP is released.
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AUDUSD is off its intraday high of 0.6334 to be slightly higher at 0.6323 as lacklustre equity performance weighs on risk-sensitive Aussie. The USD index is off today’s low but still moderately down.

  • Melbourne Institute consumer inflation expectations fell 1pp in March to 3.6%, the lowest reading since the pandemic era.
  • Aussie is also little changed against the major crosses with AUDJPY up moderately to 93.72 but off the intraday high of 93.94. AUDNZD is slightly lower at 1.1027. AUDEUR is higher at 0.5807 but off the high of 0.5818 and AUDGBP is around 0.4877 after rising to 0.4885.
  • Equities are mixed with the ASX down 0.1% and Hang Seng -0.2% and the CSI 300 and S&P e-mini flat. After rising over the last two days, oil prices are moderately lower with WTI -0.2% to $67.54/bbl. Copper is down 0.1% and iron continues to be around $102/t.
  • RBA Assistant Governor (Financial System) Jones speaks at 1330 AEDT at the IIF forum.
  • Later US February PPI and jobless claims print. The ECB’s Lagarde and de Guindos appear and January euro area IP is released.