Aussie witnessed a marginally stronger session this morning, thanks to the HSBC flash PMI and remarks by RBA’s Philip Lowe. Aussie-dollar opened at $0.9623 and started the session off with a mild slip back to the overnight lows near $0.9609. It found support off $0.9605/07 and headed higher from then on. Aussie-dollar traded up to $0.9645 a few minutes after the region’s main stock indices opened but was holding just off the highs around $0.9620 when the HSBC flash PMI crossed the wires. Aussie-dollar bounced to $0.9648 first and then extended the high to $0.9668 soon after as riskappetite improved and risk assets gained across the board. The pair witnessedanother round of consolidation as it dipped back to $0.9640 but caught a fresh bid tone in the wake of the Lowe speech, as CPI concerns rowed back RBA rate cut expectations. The pair was last holding at $0.9647, with offers noted ahead from $0.9675/80 and then further up ahead of $0.9700.
