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Stronger CNY Fixing Buoys A$

AUD

AUDUSD has risen sharply in response to the stronger USDCNY fix at below 7.10 when Bloomberg consensus was at over 7.20. This surprise weighed on the greenback with the USD index down 0.2% driving AUDUSD up 0.2% to 0.6529, close to the intraday high of 0.6534.

  • Aussie is 0.1% higher against the euro and pound at 0.6036 and 0.5177 respectively. It is moderately stronger versus the yen and kiwi at 98.74 and 1.0877 respectively.
  • Equities are mixed today with the ASX up 0.5%, Hang Seng flat and the CSI 300 down 0.4%. The S&P e-mini is unchanged. Oil prices are stronger with the WTI up 0.6% to $81.11/bbl. Copper is up 0.7% and iron ore is slightly lower at $107-108/t.
  • Later the Fed’s Bostic, Goolsbee and Cook speak and the Chicago & Dallas Fed indices are released as well as February new home sales. BoE’s Mann also appears.
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