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AUD: Expected US Tariff Announcements Weighing On A$

AUD
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AUDUSD trended higher following the initial reaction to a mixed US payrolls report that showed fewer new jobs but a lower unemployment rate and a pickup in wages. The pair approached 0.6300 and then fell on news that US President Trump plans to announce “reciprocal” tariffs this week, especially on autos, to “address the deficit”. AUDUSD fell to 0.6253 and then recovered moderately to 0.6274 to be down 0.15% on the day. It is currently around 0.6267. The USD index is 0.3% higher. 

  • AUDUSD remains in a bearish trend with initial support at 0.6171, February 4 low. Initial resistance is at 0.6304, 50-day EMA.
  • The yen was one of the G10 outperformers leaving the AUDJPY down 0.2% to 94.97 to be off the intraday low of 94.49. It is currently at 94.77.
  • AUDNZD is 0.1% higher at 1.1082 after a high of 1.1092. The pair is now at 1.1076.
  • The euro underperformed resulting in AUDEUR rising 0.4% to 0.6073 and ticking up to 0.6078 today. Europe is expected to be targeted by Trump’s “reciprocal” tariffs given its large surplus with the US. AUDGBP is up 0.1% to 0.5057 and is currently around 0.5054.
  • Equities sold off with the S&P down 1% and Euro stoxx -0.6%. Oil prices were moderately higher with Brent up 0.5% to $74.69/bbl. Copper is up 3% and iron ore stronger at around $107/t.
  • There are no data or events in Australia today.
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AUDUSD trended higher following the initial reaction to a mixed US payrolls report that showed fewer new jobs but a lower unemployment rate and a pickup in wages. The pair approached 0.6300 and then fell on news that US President Trump plans to announce “reciprocal” tariffs this week, especially on autos, to “address the deficit”. AUDUSD fell to 0.6253 and then recovered moderately to 0.6274 to be down 0.15% on the day. It is currently around 0.6267. The USD index is 0.3% higher. 

  • AUDUSD remains in a bearish trend with initial support at 0.6171, February 4 low. Initial resistance is at 0.6304, 50-day EMA.
  • The yen was one of the G10 outperformers leaving the AUDJPY down 0.2% to 94.97 to be off the intraday low of 94.49. It is currently at 94.77.
  • AUDNZD is 0.1% higher at 1.1082 after a high of 1.1092. The pair is now at 1.1076.
  • The euro underperformed resulting in AUDEUR rising 0.4% to 0.6073 and ticking up to 0.6078 today. Europe is expected to be targeted by Trump’s “reciprocal” tariffs given its large surplus with the US. AUDGBP is up 0.1% to 0.5057 and is currently around 0.5054.
  • Equities sold off with the S&P down 1% and Euro stoxx -0.6%. Oil prices were moderately higher with Brent up 0.5% to $74.69/bbl. Copper is up 3% and iron ore stronger at around $107/t.
  • There are no data or events in Australia today.