Market Update – 11th July 2017 – AUD/USD Creeps Higher Led By Iron Ore Prices

European stocks were the best performers overnight gaining around 0.2-0.5% while U.S equities finished more or less flat with the exception of the tech heavy NASDAQ which moved higher to the tune of 0.38%. The Aussie dollar led by higher iron ore prices crept forward by another 0.1%, taking AUD/USD and AUD/GBP past key levels in 0.7600 and 0.5900 respectively.

So far it’s been a pretty quiet week data wise and that looks set to continue today with only NAB Business Confidence and Home Loans numbers due at 11.30am. From a more macro view, there again isn’t much out tonight other than some speeches from various Central Bank members.

***Have a great day and should you be curious as to how much money can be saved in dealing with Compass Markets be sure to contact me for a very quick quote and indicative saving. The whole process takes only a matter of minutes**

DATA RELEASES TODAY:

AUD – NAB Business Confidence and Home Loans Change at 11.30am

AUD EXCHANGE RATES:

AUD/USD – 0.7604

AUD/GBP – 0.5904

AUD/EUR – 0.6671

AUD/NZD – 1.0462

AUD/JPY – 86.743

***Above rates are indicative wholesale rates and intended as a guide only***

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

 

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 

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