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AUD/USD easing slightly with falling auction clearance rates – Westpac

FXStreet (Delhi) - Sean Callow, Research Analyst at Westpac, notes that the AUD/USD eased slightly lower from 0.7290 late Sydney to 0.7260 early Monday as auction clearance rates fell on Saturday, NSW to 67%, Victoria to 74%.

Key Quotes

“A lot of housing supply is on offer next Saturday too, testing buyer confidence after Westpac’s increase in mortgage rates, which for now at least is not matched by other lenders. AUD/USD support on the day looks to lie around 0.7225.”

“Friday’s CFTC data showed a reduction in AUD short positions among directional accounts, though not dramatically. Leveraged funds trimmed AUD net shorts from -35.6k contracts to -27.0k while asset managers’ stance edged in from -19.2k to -17k.”

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