March 14, 2023 21:21 GMT
Moderate Rally In A$ As Risk Appetite Improves
Aussie was one of the better performers in the G10 on Tuesday, although was still down against the kiwi and CAD. AUDUSD rose 0.2% and is now around 0.6680, as risk appetite improved. The intraday high almost reached 0.6700. The USD index was down 0.1%.
- Despite the moderate come back on Tuesday, the trend for AUDUSD remains bearish. Initial support is at 0.6547 and resistance at 0.6739.
- AUDNZD fell 0.1% and is now around 1.0712 after reaching a low of 1.0691 earlier followed by a high of 1.0731. Aussie rose 1% against the yen to 89.66. AUDEUR is up 0.2% to 0.6224 and AUDGBP +0.4% to 0.5495.
- Equity markets posted a strong recovery with the S&P up 1.7% and the Eurostoxx +2%. VIX fell to 23.7%. Oil fell sharply by over 4% with Brent around $77.47. Copper was down 1.2% but iron ore strong at over $132.50/t.
- There isn’t any data scheduled in Australia today but the Quarterly Statement by the Council of Financial Regulators is published.