The Australian dollar is almost exactly where it was this time yesterday, having traded in a thin range of less than 40 pips over the entirety of Tuesday’s session.
Here’s the scoreboard as at 7.40am AEDT:
- AUD/USD 0.7252 , 0.0007 , 0.10%
- AUD/JPY 85.43 , 0.61 , 0.72%
- AUD/CNH 5.0335 , 0.0116 , 0.23%
- AUD/EUR 0.6978 , 0.0014 , 0.20%
- AUD/GBP 0.5865 , 0.0023 , 0.39%
- AUD/NZD 1.0480 , 0.0027 , 0.26%
With no major economic data released overnight, the AUD/USD appears to have taken its cues from the movements in global stocks, falling modestly in Europe before recovering ground in North American trade.
It really was an uninspiring session of trade, and that theme looks set to continue on Wednesday.
There’s nothing on the economic docket in Asia that appears likely to move the Aussie meaningfully in one way or another, a trend that will also continue into European and US trade.
Given the dearth of economic events, and the fact that many market participants are now clocking off for Christmas, it looks set to be another quiet session for financial markets.