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AUSSIE

The broader market dynamic we have mentioned elsewhere lifted AUD/USD on Wednesday, although the AUD underperformed its Antipodean cousin, perhaps on the positioning overhang in the AUD/NZD cross. Spot last deals a handful of pips higher on the day at $0.7238 after touching highs of $0.7251 in early Asia-Pac dealing on broader USD weakness. Initial resistance now seen in the $0.7276/84 area.

  • A reminder that Australia printed a record A$21bn worth of AGCBs on Wednesday. The supply settles on Sep 2., with AUD supportive flows potentially in the offing, foreign takedown-dependent, although FX hedging could negate this.
  • Q2 Private CapEx data is due at the bottom of the hour, and headlines the local Aussie docket today, as the GDP partials continue to trickle in.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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