AUDUSD Rallies Further Breaking 64c And Resistance

Aussie has continued to strengthen today with AUDUSD breaking through resistance at 0.6404 and is heading towards 0.6445, October 11 high. Key resistance is at 0.6522. AUDUSD is up 0.6% to 0.6432, off the intraday high of 0.6439. The pair has risen 1.5% today and yesterday helped by stronger equities & commodities, and a more dovish sounding Fed. The USD index is 0.3% lower, close to the intraday low.

• AUDEUR is up a further 0.3% to 0.6068 after 1% yesterday. It is off its high of 0.6076 though. AUDGBP is also 0.3% higher at 0.5275. AUDJPY is up 0.2% to 96.68 but AUDNZD is down 0.2% to 1.0919.
• Equity markets are stronger with the ASX up 1% and the Hang Seng +1% but the CSI 300 is only +0.1%. The S&P e-mini is 0.3% higher. Oil prices are up around 1% with Brent trading at $85.50/bbl. Copper is 0.7% higher and iron ore is robust at $124-125.
• Later Fed’s Paese gives welcoming remarks. On the data front, US Q3 unit labour costs, September orders and October Challenger job cuts print. Also the ECB’s Lane and Schnabel speak, the BoE decision is announced and European manufacturing PMIs released. Tomorrow Australia’s Q3 retail sales volumes are published and the RBA’s Jones speaks.