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Risk Sentiment Deterioration Weighs On A$

AUD

AUDUSD fell 0.3% on Monday to 0.6855 in the face of a generally stronger greenback. The USD index was 0.2% higher. Aussie, kiwi and scandi were underperformers on the back of softer risk appetite driven by the lack of further details on China stimulus.

  • Bullish conditions are intact and after clearing 0.6818 last week, 0.6921 is the next level to watch. Initial firm support lies at 0.6768, the June 15 low.
  • AUDNZD is up 0.2% to 1.1049, close to the intraday high of 1.1056. Aussie is down 0.3% versus the yen to 97.26. AUDEUR is 0.2% lower at 0.6274 and AUDGBP -0.2% at 0.5353.
  • Equity markets were weaker with Eurostoxx and FTSE down 0.7%. The US was closed. Oil prices also fell on the softer risk tone with WTI down 0.6% to $71.51/bbl. Copper fell 0.6% and iron ore is lower at $113/t.
  • Today the RBA minutes are published followed by Assistant Governor Kent participating in a panel at 1135 AEST and Deputy Governor Bullock speaking at 1315AEST. There isn’t any data.
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