The market in brief:
Market events due:
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AUDUSD: The Australian Dollar dipped upon the start of the UK session as the markets reacted to another sell off in Asian equities. However another batch of mixed US data ensured the lower levels were bought into and we close virtually flat. Chinese Caixin Manufacturing data and the Shanghai stock exchange is our focus today and will determine what side of the range we test next.
AUDEUR: The Euro strengthened again as Greek PM Tsipras resigned and called for an early election. French and German Manufacturing data is due this evening and as both are expected to continue improving then we should hold around these 2015 lows.
AUDGBP: The Pound rallied here as the market saw benefit to the whole European region on the call for Greek elections and a weakening in Asia. However a drop in UK Retail Sales meant most of the earlier move was reversed by the close. With nothing of note due from the UK we should stay around the 3 day old range.
AUDNZD: Another drop here as Asian equity markets took their toll on the Aussie and as the thoughts of a ½% cut from the RBNZ next month are pared back. Technically we are seeing lower highs and higher lows that suggest another larger move is building for just when the two central banks meet.
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