For the last two sessions the AUD has failed to break through 0.7900 vs. the Greenback suggesting a great deal of resistance at this crucial big figure level. U.S CPI came in on expectations overnight at 0.2% for the month of February which probably explains some of the inability of AUD/USD to push through 0.7900. A near term catalyst for the move could be tonight’s U.S retail sales and producer prices released around 11.30pm – however we’d have to see a pretty poor number for a break above 0.7900 – alternatively another bullish night for commodities and equities could have a similar result.
Aussie home loans figures were out yesterday and disappointed, coming in a whole 1% below expectations as home loans numbers contracted a further 1.1%, additionally NAB business confidence also declined from 11 to 9 in the latest reading released yesterday. Out this morning is Westpac consumer sentiment figures.
AUD EXCHANGE RATES:
AUD/USD – 0.7855
AUD/GBP – 0.5624
AUD/EUR – 0.6338
AUD/NZD – 1.0722
AUD/JPY – 83.637
USD/BTC – $9,092
All Ords (XAO) – 6,077
Gold – A$1687/oz
Silver – A$21.11/oz
WTI – US$60.83/barrel
DATA RELEASES TODAY:
CNY – Industrial Production y/y at 1.00pm
EUR – ECB President Draghi Speaks at 7.00pm
USD – Core Retail Sales and Producer Prices at 11.30pm
***Above rates are indicative wholesale rates and intended as a guide only***
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