AUDUSD Settles Above 65c, RBA Events Highlights Of Week
Aussie was one of the outperformers in the G10 on Friday and closed above 65c versus the USD, as equity markets were generally higher. AUDUSD is up 0.7% to 0.6512, close to the intraday high of 0.6520, to be up 2.4% on the week as a softer US CPI print drove the greenback down. The USD index fell 0.5% on Friday.
- AUDUSD is in a bull cycle and resistance and bull trigger is at 0.6523, which was pierced on Wednesday. A clear break above would strengthen a bullish case. Initial support is at 0.6417 and the bear trigger is 0.6270.
- Aussie rose 0.5% against the kiwi to 1.0886. AUDJPY was steady around 97.47. AUDEUR is also little changed at 0.5967 but AUDGBP is +0.3% to 0.5226.
- Equity markets rallied with the S&P up 0.1% and the Euro stoxx +1.3%. Oil prices rose around 4% with WTI at $75.84/bbl. LME metal prices rose 0.1% on Friday to be up 1.5% on the week. Iron ore is around $129/t.
- There is no data today but the focus of the week will be the RBA minutes tomorrow and Governor Bullock’s appearances.