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AUDUSD Up Strongly From Thursday’s Low, Focus On Upcoming US Payrolls

AUD

AUDUSD has continued to trend higher following on from the move in yesterday’s NY session. The pair is up 0.3% in the APAC session to 0.6593 and is now 1.3% higher than Thursday’s intraday low. Positive equity sentiment has boosted Aussie and given its underperformance, some catch up may also be helping. The USD index is down slightly.

  • The AUD ignored today’s second tier data which showed a pickup in Q4 PPI to 4.1% y/y but a sharp monthly drop of 4.1% m/m in home loans.
  • AUDNZD is 0.2% higher at 1.0717 after falling below 1.07 yesterday. AUDJPY is up 0.3% to 96.47. Aussie is 0.3% higher versus the euro and pound at 0.6061 and 0.5172 respectively.
  • Equity markets are rallying across the region with the ASX up 1.2%, Nikkei +1.0% and the Hang Seng +1.8%. The S&P e-mini is 0.6% stronger. Oil prices are stronger after falling sharply on Thursday with WTI up 0.5% to $74.21/bbl. Copper is flat and iron ore is around $130/t.
  • The focus later will be on the January US non-farm payrolls which are expected to post a 185k increase with the unemployment rising 0.1pp to 3.8%. There are also final readings for Uni of Michigan consumer sentiment and durable goods orders. The BoE’s Pill and ECB’s Centeno speak.
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