CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUDUSD Trading Sideways As Focus On US Debt Talks

AUD

Aussie was one of the better performers in the G10 on Friday and is holding onto those gains at the start of Monday trading, as US debt ceiling talks continue with McCarthy and Biden due to meet on Monday. AUDUSD rose to a high of 0.6675 but finished around 0.6650. It is currently around 0.6654. The USD index fell 0.4%.

  • The softer tone in AUDUSD continues and recent price action exposes key support at 0.6565, the March 10 low. Clearance of this level would confirm resumption of the bear cycle that started on February 2. Whereas a break of 0.6818 would reinstate a bullish theme.
  • Aussie is down 0.3% versus the kiwi with the RBNZ in focus this week. It is currently around 1.0600. AUDJPY is down 0.2% to 91.62. Aussie is flat against the euro and +0.1% versus the pound at 0.6150 and 0.5340 respectively.
  • Equity markets were mixed on Friday with the S&P down 0.1% but the Eurostoxx up 0.6%. S&P futures have started the week down 0.3% given nerves around the ongoing US debt ceiling talks. Oil prices are down 0.2% to $71.69. LME metal prices rose 0.9% on Friday to end the week down only 0.06%. Iron ore is around $105/t.
  • There is no data in Australia today. The focus of the week domestically is likely to be Friday’s April retail sales.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.