AUD Partially Recoups Losses
AUD
The Aussie dollar pokes its head higher this morning, opening in the green across board after a week of steady weakening. Asian Equities closed lower with ASX and Shanghai Comp both -0.1% and Nikkei -1.8%. Commodities were all higher with Crude Oil +0.1%, Natural Gas 1.7%, Gold +0.1%, Silver +0.4%, Iron Ore +0.7% and Copper +1.7%. A fairly quiet day locally having only seen the release of the Goods Trade Balance which missed expectations of 7.75B, coming in at 7.13B. We also saw some data out of China in the form of their Trade Balance and USD-Denominated Trade Balance, both beating market expectations convincingly. No Aussie data out today, however, from China we still await the tentative release of New Loans and M2 Money Supply y/y as well as tomorrow’s CPI and PPI y/y which is expected to remain in deflationary territory.
USD
The AUDUSD pair began to see a resurgence overnight, opening over half a cent higher and reclaiming the 0.66 handle to open this morning at 0.6602. US Equities all closed higher with Dow Jones +0.2%, S&P500 +0.8% and NASDAQ +1.3%. We saw a fair bit of data out overnight including Crude Oil Inventories, Final Wholesale Inventories m/m, Natural Gas Storage and Consumer Credit m/m all coming in above exception bar Consumer Credit. The main event for the US overnight, however, was the Unemployment Claims which did the USD no favors coming in essentially flat. A big night ahead as we will see the release of the Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate as well as Prelim UoM Consumer Sentiment.
EUR
The AUDEUR pair steadily gained momentum over yesterday’s session, opening this morning higher at 0.6113. European equities closed in the red overnight with the DAX -0.2% and CAC -0.1%. Yesterday, we saw an array of low-tier data releases out of Europe. Nothing of note besides the drop in German Industrial Production m/m which missed expectations of +0.1% coming in at -0.4%. A quiet one tonight with only the release of German Final CPI m/m.
GBP
The AUDGBP saw around half a cent of movement in yesterday’s session, reaching lows of 0.5200 before rallying to highs of 0.5250 and dropping off slightly this morning but still opening up at 0.5232. British Equities closed flat with no movement in the FTSE. Yesterday, we saw the Halifax HPI m/m come in better than the forecasted 0.3% at 0.5%. A quiet one tonight, only seeing the release of the Consumer Inflation Expectations, currently no forecasts are available.
NZD
The AUDNZD has picked up slightly overnight, briefly reclaiming the 1.07 handle before opening up this morning at 1.0695. No data out yesterday, however, this morning we saw the release of the Manufacturing Sales q/q which came in well-below previous readings of -0.8% at -2.8%. Nothing else until Tuesday’s Visitor Arrivals data.