Quiet Period Sees AUD End 2024 Mixed

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We will be closed tomorrow for the New Year's Day public holiday.
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AUD

The Aussie Dollar opens mixed against the majors with little data released during the holiday period. Yesterday also saw the ASX down -0.3%, and commodities slightly down overall with key movers being Silver -1.2% and Sugar -1.2%. Australia continues to be quiet on economic data leading up to the new year, although China is due to release their Purchasing Managers' Indices (PMIs) at 12:30pm today. These are expected to show a stable Chinese economy compared to last month, especially as China is waiting for President-Trump’s actions upon inauguration on January 20. No more major news for the rest of the week from Australia or China.
 

USD

The AUDUSD opens flat at 0.6216, trading between 0.6202 and 0.6245 last night due to American economic data. The US had Chicago PMIs and Pending Home Sales m/m released, showing mixed economic results and contributing to the higher volatility for the AUDUSD last night. Wall Street continued to slide, with the Dow Jones closing -0.6%, S&P 500 -0.7% and Nasdaq -0.6%. Tonight will see House Price Indices for the US, expected to show house prices to grow by 4.1% from last year.
 

EUR

The AUDEUR opens slightly higher at 0.5977, trading between 0.5963 and 0.5991 yesterday. The main data event was the Spanish Flash CPI which saw a higher-than-expected increase in inflation to 2.8% y/y. To equities, the DAX and CAC mirrored global equities and closed -0.4% and -0.6% respectively. Thursday will have the Eurozone release some low-tier economic data to start the new year.
 

GBP

The AUDGBP opens higher at 0.4952, trading between 0.4945 and 0.4968 overnight. The FTSE closed -0.4% as global equities dropped slightly overnight. There has been no economic data out of England recently. England’s economy has shown signs of improvement due to changes in economic and monetary policy over the past few months. Friday will see some minor economic data release to start the new year.
 

NZD

The AUDNZD opens flat at 1.1028, dropping to 1.1010 last night before rising to current levels this morning. No economic data recently. The NZD was the worst performing currency across the top 10 currencies this year, due to the housing crisis and rate cuts from the RBNZ.