Good morning all. U.S and European equities fell only marginally last night while commodity prices were mostly stable with iron ore and oil remaining around levels we’ve seen the past few days. The Aussie dollar not surprisingly (given it’s strong connection with iron ore and global sentiment) was also fairly stable managing to hold about 0.7450 vs. the Greenback and 0.6640 vs. the Euro despite some pretty strong bearish sentiment of late.
Local Aussie employment data is due this morning at 11.30am which will provide another catalyst for a move for the local currency with predictions pointing towards no change in the unemployment rate despite an additional 15K individuals finding employment.
The data keeps coming tonight, with U.K Interest Rates at 9.00pm along with U.S Retail Sales and manufacturing numbers at 10.30pm.
DATA RELEASES TODAY:
AUD – Employment Numbers at 11.30am
GBP – Interest Rate Decision at 9.00pm
USD – Retail Sales & Manufacturing Numbers at 10.30pm
AUD EXCHANGE RATES:
AUD/USD – 0.7475
AUD/GBP – 0.5641
AUD/EUR – 0.6645
AUD/NZD – 1.0254
AUD/JPY – 76.492
***Above rates are indicative wholesale rates and intended as a guide only***
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Phone Patrick – +61 03 9099 8459