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Lowe Offers Little Of Note

AUD

AUD/USD sold off Thursday, pulling back from a fresh three-month high as risk appetite turned more cautious. Inflation risks and chatter surrounding the Evergrande saga weighed on sentiment. The rate wiped out all of the previous day's gains.

  • AUD/USD last sits at $0.7466, virtually unchanged on the day. Bears keep an eye on $0.7379, which limited losses on Oct 18. Conversely, bulls would be pleased by a move through Oct 21 high of $0.7546, which would expose the 50% retracement of the Feb - Aug sell-off at $0.7557.
  • RBA Gov Lowe reaffirmed the Reserve Bank's view on inflation/low wage growth dynamics in his latest panel appearance, adding that the Bank's current mandate has served it well.
  • The Australian docket for next week features CPI (Wednesday) as well as retail sales & PPI (Friday).
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