AUD

Australian monthly inflation gauge comes in at +1.1% m/m (prior -0.1%)

AUDUSD falls back to 100 hour MA after break above 200 day MA fails

• AUDUSD also fell back below its 100 day MA

FX option expiries for Friday 03 June 2022 at the 10am New York cut

Australian housing data (April) shows lending for owner occupied & investors both fell m/m

Australian May Services PMI: 53.2 (prior 53) & Composite 52.9 (prior 52.5)

Australia construction PMI for May 50.4, dropping from 55.9 in April

AUDUSD tests daily MA levels

• Tests the 100/200 day MAs

Australian Trade Balance for April: +10,495mn (expected +9000mn, prior +9,314mn)

Australia says will take action to ensure reliability, affordability for domestic energy

China’s ambassador to Australia says trade sanctions on Australia will not be removed

Forecast for a dip in AUD/USD then likely to 0.74 in Q3

AUDUSD found resistance at the 100 day MA and support at 100 hour MA

• In between sits a swing area between 0.7179 and 0.7203.

US dollar loses ground against the commodity currencies

• AUD and CAD lead the way

RBA meet next week, today's Australian GDP data will not stand in the way of a rate hike

Australian Treasurer Chalmers says China's COVID strategy poses risks to the Aus economy