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AUDUSD Slightly Higher, Uncertainty Over Impact Of Covid In China


MNI (Australia) - AUDUSD is up slightly today (up 0.2%) on higher bond yields. It also bounced after the solid NAB business conditions and cost data. It is currently trading around 0.6760 after reaching a low of 0.6747 before the data was released. The DXY is down somewhat on its NY close.

  • AUD has gained slightly against the major crosses during the session after losing ground overnight. AUDNZD is trading around 1.0580 and AUDJPY 93.12.
  • Equity markets are flat to slightly higher in APAC today. The ASX 300 is up 0.2%, the CSI 300 flat% and the Hang Seng is +0.3%. There is uncertainty regarding how the spread of Covid in China is going to impact activity, as can be seen by the fall in iron ore prices today to $107/tonne. WTI oil prices are up a further 0.9% to $73.80 on supply concerns driven by the closure of the Keystone pipeline in North America.
  • US CPI for November will be the focus of the day. The annual rate is expected to ease slightly. Tomorrow RBA governor Lowe speaks.

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