AUDUSD Under Pressure As Greenback Strengthens

Aussie is under pressure during APAC trading with AUDUSD down 0.3% to 0.6552 as the greenback strengthens more generally driven by yen weakness. It is off its intraday low of 0.6536. The USD index is off its high but is still up 0.25%.

• Aussie is 0.2% stronger versus the yen at 93.88, close to the intraday high and off the low of 93.59. AUDNZD has been moving in a narrow range is around 1.0768. AUDEUR is down 0.2% to 0.5964 and AUDGBP -0.1% to 0.5135.
• Australian consumer and business survey data out today were fairly stable showing a depressed consumer but resilient business conditions. Business costs/prices were higher.
• Equity markets are mixed with the ASX up 0.2% but the Hang Seng down 1.2%. The S&P e-mini is down 0.2%. Oil prices are off their lows with Brent up 0.3% to $85.57/bbl. Copper is down 0.1% and iron ore is lower at just under $102/t.
• The Fed’s Harker and Barkin speak later on the economy. On the data front there is US June trade, inventories, July small business optimism and German July CPI.