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Offers Above 0.6700, But AUD/JPY Recovers Further, Job Vacancies On Tap

AUD

The A$ was roughly mid range in terms of G10 performance for Wednesday's session, losing close to 0.40% against the dollar. AUD/USD is around 0.6680/85 currently, very much sticking within recent ranges. The pair couldn't get back above 0.6700 post yesterday's CPI miss, with offers above this level during NY trade. Dips towards 0.6660 post yesterday's Asia close were supported though.

  • The risk on tone from the equities space helped AUD outperform the yen, with AUD/JPY now back close to the 89.00 level (last 88.70/75), which was a high from March 22.
  • The firmer core yield back drop and slight down tick in global commodity prices were negative offsets. Iron ore held recent highs though, the active Singapore futures contract just above $123/ton last.
  • On the data front today we have Feb job vacancies, this is no consensus for this print, but the prior read was -4.9%. This shouldn't shift the needle too much from an RBA pricing perspective ahead of next week's meeting, with futures close to flat at this stage.
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