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Greenback Volatility Driving AUDUSD Moves, A$ Unaffected By RBA Minutes

AUD

AUDUSD has been volatile during APAC trading due to the RBA minutes and swings in the greenback. It is currently 0.2% higher on the session at 0.6828. It rose to a high of 0.6833 and then fell to 0.6811 post the minutes. The USD index is down 0.1%.

  • Aussie is fairly steady against the major crosses with AUDJPY at 94.63, AUDNZD 1.0773, AUDEUR 0.6071 and AUDGBP 0.5218.
  • The minutes showed that the RBA remains very data/forecast dependent but did have a more dovish tone with discussion of downside risks to growth and the removal of “finely balanced”. See MNI: August Meeting Live, Watch Q2 CPI & June Labour Data
  • APAC equity markets are generally lower with the ASX down 0.3%, the Hang Seng -1.7% but the Nikkei up 0.1%. The S&P e-mini is 0.1% lower. Oil prices are slightly higher with WTI up 0.2% to $74.32/bbl. Copper is flat and iron ore is higher at around $114.50/t.
  • Later the Fed’s Barr and Gibson speak ahead of the blackout period before the July 26 meeting. US June retail sales, IP and July NAHB housing index, and Canadian June CPI print. The ECB’s Panetta speaks and updated European Commission forecasts are scheduled.
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