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The AUD/USD pair posts modest gains around 0.6605 during the early Asian session today as market participants await the key US inflation date this week for fresh indicators.
US weekly jobless claim’s was slightly weaker than expected with initial claims rising to 231k to come in higher than forecasts of 212k..Despite the modest miss, the USD was under pressure as a result and across the NY morning. AUD/USD rallied to hit highs of 0.6612 while NZD/USD reached 0.6025 and EUR/USD and GBP/USD made respective highs of 1.07815 and 1.2519. USD/JPY slipped around 40 points to trade around 155.41.
Economic data to watch out for this week.
• NZ – Apr. Food Prices m/m
• JP – Apr. Money Stock M2, M3
• AU – Apr. NAB Business Confidence
• AU – Apr. NAB Business Conditions
• NZ – Q2. 2yr Inflation Expectations
• EU – May. Bloomberg Economic Survey
• CA – Mar. Building Permits m/m
• US – Apr. NY Fed 1yr Inflation Expectations
Mid market rates.
| Currency Pair | Mid-market rate |
| AUD/USD | 0.6595 |
| AUD/NZD | 1.0965 |
| AUD/JPY | 102.84 |
| AUD/CNY | 4.7729 |
| AUD/EUR | 0.6124 |
| AUD/GBP | 0.5268 |
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