AUD Jumps On Solid AUS Home Loan Data - APAC Update

Xe Corporate APAC

April 9, 2019 3 min read

The AUD opened at 0.7126, and the NZD opened at 0.6742 this morning.

The AUD threatened to get interesting, with a bit of a jump on solid home loan data. This is considered Tier 3 data, and usually not much movement has been seen on the back of it, but given the perilous state of the Australian housing market, and the quite large beat, the AUD gained a good 25 points, before trading back down over the European session to where we started.

The malaise should not last however. Tomorrow, as is often the case with Thursdays, seems to be set for a big day. Late tonight we have GDP data out of the UK, followed by the EU setting their Main Refinancing Rate. Admittedly given the shadow of Brexit, the market wouldn't expect too many surprises out of the EU. However US CPI, expected to come in at 0.3%, could definitely move the market if we get much of a miss.

Throughout the day tomorrow, and closer to home, we have Chinese CPI at 13:30 NZT. This has a direct effect on the AUD, and can effect exchange rate pretty instantly.

Global equity markets were mostly lower on the day - Dow -0.72%, S&P 500 -0.57%, FTSE -0.35%, DAX -0.94%, CAC -0.65%, Nikkei +0.19%, Shanghai -0.16%.

Gold prices rose 0.8% to USD$1,308 an ounce.

WTI Crude Oil prices are off a touch to US$64.09, down 0.4%.

Mid-market Rates

AUDUSD0.71260.0%NZDUSD0.67420.0%AUDEUR0.6325-0.1%NZDEUR0.59860.0%AUDGBP0.54540.0%NZDGBP0.51650.1%AUDJPY79.19-0.3%NZDJPY74.92-0.3%AUDNZD1.05680.0%NZDAUD0.94580.0%GBPAUD1.8314-0.1%NZDCAD0.89840.1% GBPNZD1.9360-0.1%
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