Market Update – 13th September 2019 – AUD Stable Against Backdrop Of Low Volatility And Cautious Optimism

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.

Steady As She Goes: 

The Aussie Dollar remains more or less unchanged since my last market update on Wednesday morning. Unfortunately, yesterday morning was far too hectic to deliver an update, but to be honest, their really wasn’t much to write about anyway. AUD/USD seems to have found some consolidation in the mid 0.68’s over the past week, while AUD/EUR has traded between 0.6300 and 0.5950 since early May and is almost smack bang in the middle of that range as we speak.

Stocks Gain: 

U.S and European stocks made good gains overnight capping off a solid week. Of course things could go pair shaped in the final session tonight, but the market will be hoping that U.S retail sales numbers due at 10.30pm show a pickup in retail sales and continued positive investor sentiment. Forecasts are for a gain of around 0.1%.

The Chinese celebrate the Mid-Autumn Festival today and so the CNY and China will be taking a day off to eat Mooncakes and spend time with family.


AUD/USD – 0.6833

AUD/GBP – 0.5532

AUD/EUR – 0.6172

AUD/NZD – 1.0681

AUD/JPY – 74.011


All Ords (XAO) – 6,765

Gold – A$2,181/oz

Silver –  A$26.30/oz

WTI – US$55.20/barrel


USD – Core Retail Sales m/m at 10.30pm

CNY – Bank Holiday (Mid-Autumn Festival)

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 



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