| AUDUSD
Open today 0.6438 Yesterday’s Range 0.6425 / 0.6473
|
NZDUSD
Open today 0.5908 Yesterday’s Range 0.5893 / 0.5937 |
| AUDEUR
Yesterday’s Range 0.6027 / 0.6077
|
AUDCNH
Yesterday’s Range 4.6779 / 4.7070
|
| AUDNZD
Yesterday’s Range 1.0882 / 1.0920 |
AUDGBP
Yesterday’s Range 0.5183 / 0.5208 |
The AUD and the NZD had their best weekly gains in a couple of months, underpinned by improving sentiment about China, easing inflationary pressures emerging in the US and hopes that rates have reached a peak in the European Union after the ECB met on Friday. Noted rallies have been capped in the antipodeans by persistently higher US Treasury yields. Attention this week will be the meetings of the FOMC and Bank of England policy decisions as well ae the Bank of Japan this Friday. The Aussie’s trading pattern is likely to remain rangebound ahead of the US Fed meeting on Wednesday, with intraday moves following the lead of equities and USDCNH in the meantime. Day traders will be looking for support at 0.6410 initially and gains to 0.6470/80 resistance to find further supply and an opportunity to sell the fade.
Wall Street indices ended the day lower after a gloomy session as tech stocks and mixed economic data dampened investor appetite. The DJI retreated -0.8%, while the S&P500 dropped -1.2% and the Nasdaq fell 1.6% for the session. The Australian share market is expected to follow the Wall Street declines today, with investor sentiment deflated ahead of the RBA meeting minutes for September and the US Fed Rate decision later in the week.
Gold prices managed gains against a weaker US-dollar for the day and safe haven demand as markets entertain the thought that Fed may pause on US rates for this meeting.
Copper prices finished the week in upbeat fashion as top consumer nation, China, showed signs that its economy was stabilising. Dalian and Singapore Iron Ore prices ended the week in positive fashion as traders welcome efforts by the China authorities to bolster their economy with added stimulus.
Brent Crude Oil prices rounded out the week with positive gains, as expectations of tighter supply continue to influence the market, along with China demand optimism returning.
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