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Weak Risk Appetite From Soft China Data Pressuring The A$

AUD
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AUDUSD is off its intraday low of 0.6757 to be little changed at 0.6761 during APAC trading today. Concern over China’s economy following the fall in the manufacturing PMI for August released on the weekend has weighed on risk sentiment with equities and commodities lower, which have also pressured Aussie. The USD index is slightly higher.

  • Aussie has gained against kiwi with AUDNZD rising 0.2% to 1.0848. AUDJPY is down 0.2% to 98.71. AUDEUR is 0.1% lower at 0.6119 and AUDGBP to 0.5151.
  • Data showed a sharp fall in Q2 Australian profits but little change in inventories. Building approvals appear to be recovering. August ANZ job ads fell again and the MI inflation gauge moderated to 2.5% y/y.
  • Equities are generally weaker with the ASX down 0.2% and Hang Seng -1.5%. The S&P e-mini is down 0.1%. Oil prices have continued to decline with WTI -0.8% to $72.97/bbl. Copper is down 0.5% and iron ore is sharply lower at around $98/t.
  • The US is closed for a holiday. European August manufacturing PMIs are released and the ECB’s Buch appears before the European parliament.
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AUDUSD is off its intraday low of 0.6757 to be little changed at 0.6761 during APAC trading today. Concern over China’s economy following the fall in the manufacturing PMI for August released on the weekend has weighed on risk sentiment with equities and commodities lower, which have also pressured Aussie. The USD index is slightly higher.

  • Aussie has gained against kiwi with AUDNZD rising 0.2% to 1.0848. AUDJPY is down 0.2% to 98.71. AUDEUR is 0.1% lower at 0.6119 and AUDGBP to 0.5151.
  • Data showed a sharp fall in Q2 Australian profits but little change in inventories. Building approvals appear to be recovering. August ANZ job ads fell again and the MI inflation gauge moderated to 2.5% y/y.
  • Equities are generally weaker with the ASX down 0.2% and Hang Seng -1.5%. The S&P e-mini is down 0.1%. Oil prices have continued to decline with WTI -0.8% to $72.97/bbl. Copper is down 0.5% and iron ore is sharply lower at around $98/t.
  • The US is closed for a holiday. European August manufacturing PMIs are released and the ECB’s Buch appears before the European parliament.