- Westpac August Consumer Confidence -2.5 % m/m Index at 96.6 vs 99.1 prior . Disappointing number .
- Australia 2nd qtr Wage Cost Index rose 1% q/q , rose 3.7% y/y , slightly better than expected .
AUD/USD was the main focus today as it tested the lows of 1.0465 after a disappointing consumer confidence number . The AUD/USD has been under pressure as it retraces from its stellar performance over the last month . EUR/AUD covering saw the pair test key resistance at the 1.1770/75 level .
The EUR/USD (high of 1.2332) was bolstered by EUR/YEN unwinding touching high of 97.23. EUR/USD struggled within a 15 pip range most of the session . With parts of Europe out today , you can expect the usual quiet market conditions to continue. Here’s what to expect in a few hours . click here for details-BI.
USD/JPY stayed firm most of the session touching a high of 78.89 . Offers still lurk around the 79.00 level commingled with stops along the way up to 79.20. Support comes in around the 78.45/50 level and the usual 78.00/10 bids.
Good Luck Today
