Open today 0.6432
Yesterday’s Range 0.6390 / 0.6433
Open today 0.6046
Yesterday’s Range 0.5999 / 0.6049
Yesterday’s Range 0.6040 / 0.6080
Yesterday’s Range 4.6646 / 4.6878
Yesterday’s Range 1.0633 / 1.0672
Yesterday’s Range 0.5220 / 0.5250
The AUDUSD got a lift from falling US Treasury yields, advancing +0.3% for the day. Concerns over the Chinese property sector have been weighing on the antipodeans and Asia risk assets , though some pressure has eased with reports that Beijing is contemplating fresh stimulus measures. Potential headwinds also pertain to the conflict and geopolitical tensions between Israel and Hamas of Palestine for risk assets in general. For now though, the market mood is modestly upbeat and driving the Aussie higher. Today, in Australia, RBA’s Kent is due to speak, but not expected to be a market mover. US release for PPI, September will be the key economic data for today, on all markets. Look for the AUDUSD to remain positive and Asia equities find a lift. Performance across Asia equity markets and AUDJPY moves will provide some hint for direction in our session today. Continued resistance seen in the 0.6430’s and further supply up to 0.6460 with support back to 0.6370’s initially.
Wall Street had another rally for the day as US Bond yields retreated on bets that the Fed will pause after government officials said rates were peaking. The DJI was up +0.4%, the S&P500 was up +0.5% and the Nasdaq gained +0.6% for the session. Australian shares are looking to open higher with the tailwind of Wall Street’s close, though investor caution remains with political tensions in the Middle East.
Gold prices eased, giving back some of the previous session gains, as investors tentatively returned to riskier assets after US officials comment’s as to policy outlook.
Copper prices drifted lower as caution emerges via demand from China with reports that property giant Country Garden had issued warnings over its ability to meet offshore debt obligations. Iron Ore futures fell once again as concerns remain over demand outlook in Choina and the country’s struggling property sector.
Brent Crude Oil prices closed lower for the session, but still holding on to earlier in the week gains, as traders remain attentive to the supply disruptions due to the conflict in the Middle east.
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