AUDUSD Reaches New 2023 Low, Wages & RBA Minutes Coming Up

The greenback gained against the G10 on the back of higher yields and Aussie was one of the better performers. AUDUSD reached 0.6454 in early NY trading, a new low for the year. Breaks above 0.6500 were short lived. It is currently around 0.6486. The USD index rose 0.3%.

• AUDUSD breached the bear trigger of 0.6458 on Monday. A clear break of this level would strengthen the bearish theme and open up 0.6403, a Fibonacci retracement. Initial resistance is at 0.6534, November 11 high.
• AUDNZD traded sideways finding support at 1.084 and resistance at 1.0865. It is now around 1.0858. AUDJPY is 0.2% higher at 94.38. AUDEUR is up 0.2% to 0.5947, close to the intraday high. AUDGBP fell 0.1% to 0.5114.
• Equities were mixed with the S&P up 0.6% and the Euro stoxx +0.2% but the FTSE down 0.2%. VIX was steady at 14.8%. Oil prices were lower with WTI down 0.9% to $82.47/bbl. Copper rose 0.2% and iron ore is just below $100/t.
• The August minutes from the RBA meeting are released today. There is also Q2 wages (WPI) which are expected to rise 0.9% q/q to be steady at 3.7% y/y.