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$ Below 67c Again, May CPI Data Coming Up

AUD

AUDUSD was a mid-range performer on Tuesday. It rose to an intraday high of 0.6721 late in the APAC session but then eased through London/NY to below 67c. It is currently up 0.2% to 0.6685, close to the low of 0.6670. The USD index was 0.2% lower despite better-than-expected data.

  • Initial support is at 0.6663 followed by 0.6627 and a break of this would strengthen bearish conditions. Initial firm resistance is at 0.6806.
  • Aussie held onto most of its gains against the yen. It is 0.5% higher at 96.28 after a high earlier of 96.50. AUDNZD is up 0.2% to 1.0845. AUDEUR is down 0.4% to 0.6098 after reaching 0.6151. AUDGBP is -0.1% to 0.5243.
  • Equity markets are higher with the S&P and Eurostoxx both up 0.6%. VIX is down to 13.75%. Oil prices sank with WTI down 2% to $67.95/bbl. Copper fell 0.3% but iron ore rose to over $113/t.
  • May CPI is released today and is expected to moderate to 6.1% from 6.8%.
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