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AUD

AUD/USD held a relatively tight range Tuesday, with participants assessing familiar risks, including U.S. presidential transition & global coronavirus situation, amid little fresh to move the needle. The rate finished virtually at its opening levels.

  • Australian Westpac Consumer Confidence rose by 2.5% M/M to 107.7 from 105.0 this month, per the report released this morning. Westpac noted that "another strong result" reflects the impact of the unwinding of restrictions across Victoria and the re-opening of the Victoria/NSW border.
  • The rate last deals at $0.7284, virtually unchanged on the day. A break above Nov 9/Sep 16 highs of $0.7340/45 is needed to bring the upper 3.0% 10-DMA envelope at $0.7401 into play. Downside focus falls on Nov 6 low of $0.7239 and a break here would expose Nov 5 low of $0.7145.
  • Remaining data highlights in Australia this week include consumer inflation expectations, due Thursday.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com

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