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Aussie Catches Bid Thursday

AUD

Firmer risk appetite lent support to AUD/USD Thursday, as Evergrande worries receded somewhat, while participants assessed the latest policy decision/comments from U.S. FOMC. Firmer commodity prices provided another source of AUD strength.

  • The Guardian cited leaked figures from the national Cabinet meeting suggesting that the number of Pfizer jabs allocated to states and territories will be reduced in October, despite plans by NSW and Victoria governments to reach critical vaccination thresholds during that month.
  • Coming up in Australia next week we have retail sales (Tuesday), building approvals & job vacancies (Thursday) as well as CoreLogic House Price Index & housing finance data (Friday).
  • AUD/USD last trades at $0.7300, a handful of pips higher on the day. A clearance of the 20-EMA at $0.7307 would shift topside focus to Sep 10 high of $0.7410. Conversely, the initial layer of support has been defined at $0.7224-20, which limited losses this week. A break here would open up the 76.4% retracement of the Aug 20 - Sep 3 rally at $0.7194.

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