May 20, 2024 02:54 GMT
AUDUSD Testing 67c, Struggling To Hold Breaks
AUD
AUDUSD is up 0.1% and is hovering around 67c with breaks above resulting in a return to around that level. It is currently at 0.6700 after an intraday high of 0.6708. A$ is being supported by a stronger risk-on tone with regional equities rallying following news late last week of measures to support China’s troubled housing market. This is also supporting commodities today. The USD index is little changed.
- Aussie is up 0.2% against the yen to 104.40, close to the intraday high of 104.57. AUDNZD is 0.2% higher at 1.0934. AUDEUR is up 0.1% to 0.6161 and AUDGBP is +0.1% to 0.5273.
- Equities are stronger with the ASX up 0.7% and the CSI 300 +0.4%. The S&P e-mini is 0.2% higher. Oil prices are little changed with WTI up 0.3% to $79.80/bbl. Copper continues to rise up 2.7% during APAC trading. Iron ore is stronger at around $119.50/t.
- Later the Fed’s Bostic, Barr, Waller, Jefferson and Mester speak. There are no data of note. The RBA’s May meeting minutes are published Tuesday.
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