Market Update – 11th April 2019 – AUD Moves Higher With Robust Commodities Prices & Positive Sentiment

Please note that the commentary below is factual information provided to a group of readers as a web blog, and where an opinion is expressed by the author, it is GENERAL ADVICE only.

AUD Moves Higher:

We finally saw some AUD action overnight thanks to positive sentiment and strong commodities prices which have finally flowed through to a higher AUD. AUD/USD broke and held through 0.7100, while AUD/EUR is sitting pretty around the mid 0.63’s mark. As has been the case lately and as I’ve said a few times to many of my clients: Importers would be wise to take these opportunities when the AUD moves higher, a bird in the hand is better than two in the bush. And while I understand the thought that what if AUD goes a little higher, keep in mind what if it fails here and drifts lower once again.

Westpac Consumer Sentiment Stronger:

In terms of data released yesterday, it was generally more optimistic data. We saw a jump in Westpac Consumer Sentiment, while in the UK manufacturing and industrial production PMI improved. Europe kept interest rates on hold at 0.00%, a full 1.5% below our own RBA set interest rates. CPI in the U.S grew, but stripping out energy and food we saw a flat reading at 0.1% for the month. Overall the global economy remains in growth but it’s slow and meandering growth, where in the world the next tidal wave of growth happens is anyone’s guess but India should be at the top of that list.

Chinese CPI Due:

Ahead today is Chinese CPI and U.S Producer Prices. Chinese CPI is the big one and a strong number should support commodities prices and the AUD. A poor number could see us drift off again.

Final note for importers: AUD is up, think about covering some of your foreign currency exposures. 


AUD/USD – 0.7137

AUD/GBP – 0.5445

AUD/EUR – 0.6326

AUD/NZD – 1.0561

AUD/JPY – 79.226


All Ords (XAO) – 6,316

Gold – A$1,824/oz

Silver –  A$21.25/oz

WTI – US$64.45/barrel


CNY – CPI at 12.30pm

USD – PPI at 11.30pm

Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.



Patrick's Signature-802090-edited.jpg

Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 



The information provided in this report has been prepared without taking into account your particular objectives, financial situation or needs. You should consider whether our products are appropriate for you and read the FSG and PDS which are available on this website.
This report and must not be copied, either in whole or in part, or distributed to any other person.
All references to prices, amounts and currency are in Australian dollars unless otherwise noted.
This report is provided for Australian residents only and is not intended for use by residents of any other country.

Leave a Reply

Your email address will not be published.