AUD in focus after Glenn Stevens' comments

Four key markets in focus today.


Glenn Stevens continued to talk down the AUD with intervention being an option. It will be interesting to see if it can halt its slide after a minor recovery off 0.92.


USD/JPY extended its gains and traded as high as 101.16, partly driven by USD gains and mainly due to continuing yen weakness. In May, USD/JPY traded as high as 103.74 and that will be the next level to watch.

Japan 225

We are currently calling the Nikkei up 1.2% at 15,550 which leaves it within striking distance of May highs just shy of 16,000. A break of May highs will see the Nikkei trade at its highest since 2007.

Medusa Mining

Gold dropped to multi-month lows overnight and this will put the gold names on the back foot today. Medusa Mining has its AGM in Perth and we could hear some commentary on the impact of the gold price.

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