The AUD is trending lower
The USD is the strongest and the AUD is the weakest for the 5th day in a row. The wildfires continue to burn unabated, and the chance of an ease at the RBA meeting next month have increased to 57%. Technically, the AUDUSD fell below its 200 day MA at 0.68955 which is more bearish as well. US stocks are marginally higher as the market reassesses the geopolitical risks out of Iran. US stocks close higher yesterday after sharp declines earlier in the day. The reports from China indicate that the US China phase I deal is on track.
Looking at the ranges and changes snapshot, the ranges in the AUD pairs do stick out too. The AUDUSD range is 73 pips with the pair down -57 pips. The AUDJPY has a 79 pip range (above its 22 day average) and down -60 pips. EURAUD and GBPAUD are also on the move (lower AUD).
In other markets:
- spot gold is near unchanged at $1566.50 (up $0.70 or 0.05%)
- WTI crude oil futures are down $0.58 or -0.9% at $62.70
in the premarket for US shares, the futures are trading above and below the unchanged area
- Dow, -9 points
- NASDAQ +13 points
- S&P index -1 point
In the European bourses, the major indices are catching up to the afternoon US trading to the upside (and are trading higher):
- German DAX, +0.8%
- France's CAC, +0.35%
- UK's FTSE, +0.2%
- Spain's Ibex, +0.15%
- Italy's FTSE MIB, +0.6%
In the US debt market, the yields are down by about -1 to -1.5 basis points
In the European debt markets, yields are trading mixed with German and French yields down marginally and UK, Spain, Italy, and Portugal marginally higher:
