AUD/USD, AUD/NZD, AUD/JPY: Daily Range & Outlook - ANZ

AUD/USD, AUD/NZD, AUD/JPY: Daily Range & Outlook - ANZ

29 March 2016, 12:45
Vasilii Apostolidi

AUD/USD: GLOBAL DRIVERS… Easter was marked by a general firming in the USD, driven by Q4 GDP and further hawkish remarks by Fed speakers. However, last night’s personal consumption report saw some of this USD strength unwind. The AUD will continue to trade with global sentiment and commodities. Overnight, Yellen’s speech is the main event, while key data risk is up later this week with US Payrolls, ISMs, and global PMI results. All of these could drive added volatility. Expected range: 0.7490 – 0.7600

AUD/NZD: NZ BUSINESS CONFIDENCE… Today (and indeed this week) is relatively quiet for AUD/NZD, implying the cross should range trade. However, the ANZ-RM weekly consumer confidence in Australia on Wednesday and NZ Business Outlook on Thursday will be of note. Expected range: 1.1160 – 1.1265.

AUD/JPY: OUTFLOWS… With outflows continuing and inflation relatively stable in Japan, AUD/JPY has rallied. Global risk has also settled, allowing this cross to climb higher. Expected range: 85.00 – 86.20

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