Free Trial

AUDUSD Slightly Higher, Uncertainty Over Impact Of Covid In China

AUD

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.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.