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.
What Happened Overnight?
The AUD has pared some of it’s 2019 gains overnight as U.S and European stocks turned negative and global growth concerns once again start to agitate investors. The NASDAQ finished lower by around 1% while in Europe the FTSE was the worst performer down by 0.91%. Local inflation data released by the Melbourne Institute yesterday surprised to the upside coming in at 0.4%, which was the highest reading since April of last year and comes on the back of pretty weak inflation data throughout most of 2018. The data however had little impact on the AUD which really was traded more on global macro trends rather than the local economic data.
AUD Still Near One Months Highs:
Overall the AUD was off around 0.3% across the board, but remains near one month highs vs. the US Dollar and Euro. The Aussie Dollar could hit a bit more turbulence tonight with U.S producer prices data due out just after midnight.
AUD EXCHANGE RATES:
AUD/USD – 0.7167
AUD/GBP – 0.5561
AUD/EUR – 0.6245
AUD/NZD – 1.0520
AUD/JPY – 77.568
USD/BTC – $3,639
All Ords (XAO) – 5,833
Gold – A$1,795/oz
Silver – A$21.75/oz
WTI – US$50.93/barrel
DATA RELEASES TODAY:
USD – PPI m/m at 12.30am
EUR – ECB President Draghi Speaks at 2.00am
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Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
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