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Aussie Trading In Narrow Ranges, Budget Released Later

AUD

AUDUSD has been range trading during the APAC session and is currently around 0.6780. It reached a low of 0.6770 following the HK open before bouncing back. The USD index is moving sideways.

  • Aussie is up 0.2% versus the kiwi to be back above 1.070 at 1.0708. AUDJPY is down 0.1% to 91.57. AUDEUR is 0.1% higher at 0.6169 while AUDGBP is flat at 0.5375.
  • Equity markets are mixed in the APAC region with the ASX down 0.4% and Hang Seng -0.2% while the CSI 300 is up 0.6% and the Nikkei +0.8%. The S&P e-minis are flat. Oil prices are down slightly today but off the intraday low with Brent 0.2% lower to around $76.84/bbl after reaching a low of $76.42. Copper is down 0.5% while iron ore is just under $107/t.
  • Later the Fed’s Jefferson and Williams, and the ECB’s Lane speak. Other than that the data calendar is quiet. Australia’s Federal Budget is handed down at 1930 AEST. See https://budget.gov.au/ and MNI’s Budget: Possible Near-Term Surplus But Deficits Thereafter & 82% Of Revenue Windfall To Be Saved, Near Term Surplus Projection
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