AUDUSD Range Trading Driven By Equities, AUDNZD Continues Move Lower

AUDUSD has been range trading during the APAC session today driven by equity sentiment. The pair rose to 0.6561 and then fell when HK/China equities opened and sold off reaching a low of 0.6542 but then recovered somewhat as the equity indices turned. AUDUSD is unchanged on the day at 0.6551. The USD index is down slightly.

• Aussie has continued to soften against the kiwi and has firmly cleared the 1.06 level. It is down 0.1% to 1.0590. AUDJPY is up slightly to 98.54. AUDEUR is 0.1% lower at 0.6053 and AUDGBP is around 0.5184.
• Equity markets are mixed with the ASX flat but Nikkei up 1.7% and CSI 300 +0.2%. The S&P e-mini is up 0.7%. Oil prices are slightly higher with WTI +0.2% to $78.04/bbl. Copper is down 0.1% and iron ore is steady around $120/t.
• The Fed’s Jefferson, Harker, Cook and Kashkari speak later. Also the ECB’s Tuominen and Fernandez-Bollo appear and the January meeting accounts are published. In terms of data, US/Europe preliminary February PMIs are released, as well as US jobless claims, Chicago Fed index, US existing home sales, final January euro area CPI and Canadian retail sales.