AUS CPI at 11:30 TODAY
AUD
The Aussie Dollar opens mixed this morning against the majors after what was a quiet day with only the release of the Westpac Consumer Sentiment coming in much better than forecast at 1.7%, showing a lift in AU consumer pessimism, and consumer sentiment. Asian equities also finished the day mixed with the Nikkei +1.0%, Hang Seng +0.3%, Shenzhen -0.5%. The ASX however moved 1.4% higher, driven by energy and materials. For Commodities we had Gold and Silver close flat at 0%, Iron Ore +0.6%, while Copper came through -1.3%. A couple minor data releases on the local calendar with RBA’s Kent speaking and MI Leading Index m/m. However, all focus will be at 11:30am this morning with the release of our CPI y/y which is expected to increase from 3.6% to 3.8%, which may further support the hawkish outlook of the Reserve Bank, and provide a few more clues on the monetary policy path.
USD
The AUDUSD opens lower this morning at 0.6645, after the USD was bolstered by hawkish comments from Federal Reserves Bowman as well as data showing a stable housing market in the world's largest economy, both suggesting that the central bank will not be in a rush to kickstart its rate-cutting cycle. US equities were mixed with the Dow Jones -0.5%, the S&P 500 and Nasdaq both up 0.2% and 0.5% respectively. Looking ahead, we have a few pieces of US data set to release overnight with Crude Oil Inventories which is forecasted to fall to -2.6M from the previous -2.5M. However, the focus will be on the monthly New Home Sales data with a forecast of a slight increase from 634K to 636k.
EUR
AUDEUR opens slightly higher this morning at 0.6201, after what was a relatively quiet day for the Eurozone with only the German Buba President Nagel speaking on digitalisation, which had no effect on the market. Eurozone equities however all closed in the red with the DAX -0.8% and the CAC -0.6%. No major news set for release today with only the German GfK Consumer Climate set for release this arvo. It will be a quiet week for the Eurozone with no major data until this Friday evening with their French Prelim CPI m/m, and Spanish Flash CPI y/y.
GBP
AUDGBP opens slightly lower this morning at 0.5237, mostly flat as there was no data out of the UK yesterday. UK equities however closed in the red with the FTSE -0.4%. No major data set for release today with only the CBI Realized Sales which is set to decrease to 1 from the previous 8. All eyes this week will be focused on BOE Gov Bailey speaking tomorrow at 7:30pm.
NZD
The AUDNZD opens slighting lower this morning at 1.0858. No data releases from our Kiwi neighbors today, however tomorrow we will get the release of their ANZ Business Confidence results, followed by their Matariki holiday on Friday.