AUD/USD Hits 34-Week Highs

AUD

The AUD opens stronger across all major currencies with global risk sentiment improving off the back off tariffs being delayed to August 1. No data out of Asia or locally. New Loans out of China set as tentative for today. A mixed day for Asian equities saw the Hang Seng trade +0.6%, the Shenzhen +0.5% and the Nikkei -0.4%. Locally, the ASX finished the day +0.6%, with materials and industrials leading the pack at +1.2% and +1%. Commodities too were mixed, Crude Oil -2.2%, Ice Neat Gas +2.6, CMX Copper +2.5% & Ice sugar -1.8% being the biggest movers. Today, the Aussie has no news, the next key data point to watch for is Employment Change and Unemployment Rate next Thursday.
 

USD

A large improvement in risk sentiment overnight sees AUDUSD open at 34-week highs of 0.6593, gaining 1.37% from this time a month ago and 3.5% above the lows seen in late June. Another positive session on Wall St. saw the Dow Jones close +0.4%, the S&P 500 +0.2%, and the Nasdaq +0.1%. Yesterday, Unemployment Claims missed expectation minorly at 227K, expected at 232K. FOMC Member Waller spoke overnight, calling for rate cut in July, reinforcing the Fed divide. Today is quiet for the US with the weekend looking to follow suit.
 

EUR

AUDEUR opens stronger at 0.5633, jumping 40 basis points overnight. European equities with the DAX -0.4% and CAC +0.3%. Yesterday, low currency impact data German Final CPI m/m and Italian Industrial Production m/m out. Today, German WPI m/m out this afternoon. French public holiday on Monday. No projected major data points until July 24.
 

GBP

AUDGBP follows suit to rally overnight and open stronger at 0.4853. FTSE at +1.1%, Yesterday, no data. Today GDP m/m forecasted at 0.1%, previously -0.3%. Today, Construction Output m/m, Goods Trade Balance, Index of Services 3m/3m, Industrial Production m/m and Manufacturing Production m/m, low currency impact data out as well.
 

NZD

AUDNZD opens stronger at 1.0910. Yesterday, Visitor Arrivals m/m data was out for the Kiwis. Today, Business NZ Manufacturing Index came in this morning above previous at 48.8. A quiet and low data weekend to come for the NZD.