French Debt Crisis Weakens Euro

AUD

The AUD opens mixed/flat against the major currencies, with no major developments or news occurring worldwide. Asian equites were mixed, with the ASX closing +0.8%, Shanghai Comp -0.4% and Nikkei flat (Bank Holiday).  Commodities saw a major increase in prices, with the largest movers being Natural Gas +3.2%, Sugar +3.0%, Oil +1.5%. Today will have no major economic data outside of the RBA’s Monetary Policy Meeting Minutes, which will show the RBA’s reasoning for their interest rate hike.
 

USD

The AUDUSD opens at 0.6960, slightly lower from yesterday however minimal movement occurred due to the US Bank Holiday. Wall Street closed mixed, with the Dow Jones +0.4%, S&P500 -0.1% and Nasdaq -0.4%. No economic data to be released until Wednesday night, with American CPI figures expected to show an increase from previous month.
 

EUR

The AUDEUR opens flat at 0.6237, which almost matched Monday’s 22-month highs on the currency pair. European equities closed higher despite the uncertainty, with the DAX +0.8% and CAC +0.4%. The Euro has fallen to its weakest in 1.5 years, mainly due to France’s debt/pension crisis. No major economic data out of the Eurozone today, with ECB president Legarde speaking tomorrow at an event in Bangkok.
 

GBP

The AUDGBP opens flat at 0.5268, with the currency pair trading sideways between 0.5265 and 0.5281 over the past 24 hours. English equities rose overnight, with the FTSE +1.0%. Another quiet data out of England for economic data, with markets looking forward to tomorrow’s speech from Bank of England’s governor in Bangkok.
 

NZD

The AUDNZD opens flat at 1.2453, reaching 3 week highs on the currency pair. No economic data released yesterday or today, with tomorrow morning seeing New Zealand's Visitor Arrivals m/m.