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Bounces Back From 64c, Holding Gains In Early APAC Trade


Apart from SEK Aussie was the best G10 performer versus the greenback with AUDUSD up 0.4% to 0.6431. That does hide some volatility as the pair approached 0.6400 during the European session with a low of 0.6402 before bouncing back. The USD index was down slightly.

  • Trend conditions remain bearish for AUDUSD and the bear trigger and initial resistance is at 0.6365. A break of this would open 0.6285, 4 November 2022 low. A clearance of 0.6499, 20-day EMA would suggest scope for a stronger correction.
  • Aussie is up 0.4% versus the yen at 94.18. AUDNZD is 0.4% higher at 1.0883. AUDEUR is up 0.2% to 0.5940 after a low of 0.5922. AUDGBP broke above 0.5100 on Monday with an intraday high of 0.5110 and is currently +0.2% to 0.5101.
  • Equity markets were stronger with the S&P up 0.6% and the Euro stoxx +1.4%. VIX is down to 15.1%. Oil prices range traded and WTI closed just under $80/bbl. Copper is flat and iron ore is slightly lower at around $113/t.
  • There is no data today but RBA Deputy Governor Bullock speaks at 1740 AEST on “Climate change and central banks”.

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