Open today 0.6365
Yesterday’s Range 0.6333 / 0.6379
Open today 0.5897
Yesterday’s Range 0.5872 / 0.5931
Yesterday’s Range 1.0687 / 1.0800
Yesterday’s Range 0.5997 / 0.6033
Yesterday’s Range 4.6310 / 4.6703
Yesterday’s Range 0.5184 / 0.5228
The AUDUSD has continued to climb, despite favourable US Retail sales print for September, as the markets focus on the release of the RBA Minutes from the October Meeting, which hinted at a hawkish tone and raises expectations that the central bank will deliver another rate hike in November. Attention from the Bank committee will now be on the Q3 Inflation data, out next week. China data today will set the scene for intraday moves with the release of GDP, Retail Sales and Industrial Production. China GDP is expected to come in at 4.4% yoy, which is below the PBoC targets of 5%, highlighting the nation’s slowdown in growth. RBA’s Michele Bullock speaks today at a ‘fire-side chat’ and may provide further colour to the Minutes release from yesterday. Look for some support at 0.63-cents on any weakness, with resistance emerging at the old pivot point of 0.64-cents, a key to topside gains allowing further recovery, with 0.6380’s noting some supply on the way.
Wall Street indices mixed for the day as US bond yields failed to sustain clear direction, US Retail Sales release hints at further Fed tightening and technology chipmaker stocks slumped after US banned the sale of the AS800 chip to China, manufactured by Nvidia. The DJI slipped -0.4%, the S&P500 near flat ending -0.01% and the Nasdaq closed lower by -0.25% at the close. Australian shares are looking to soften at the open today as investors digest the RBA Minutes and monitor the prospect of a possible rate hike next month.
Gold prices remains firm as investors remain on edge with their sights on escalations in the Middle East conflict and global inflation underpins the market mood.
Copper prices ease lower. Iron Ore prices have remained firm as traders see confidence with the latest China stimulus but await latest GDP data due out today.
Brent Crude Oil prices returned gains as US President Biden prepares for his visit to Israel and Venezuela’s government re-opens talks with their opposition that could pave the way for a lift in US sanctions.
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