Market Update – 15th May 2018 – AUD/USD Holding In The 0.75’s, But Significant Economic Data Due Today

The Aussie dollar is marginally lower since yesterday morning, while U.S and European equities finished the overnight session mixed, but little changed. A dearth of economic data reduced volatility more or less across the board over the past 24 hours, however that volatility is set to return over the next 24 hours with local Monetary Policy Minutes from the latest RBA meeting due at 11.30am, followed by Chinese economic data around lunchtime and U.K wages & U.S retail sales this evening.

Interestingly iron ore prices moved higher over the past 24 hours with commodities more broadly (ex Agriculture) performing well. Iron ore as I’ve mentioned at nauseum in my morning market updates does tend to provide a fair bit of direction for the Aussie dollar as a result of it being our major export and never has it been so clear but in the recent budget numbers released by ScoMo in which higher iron ore prices (and commodities in general) have well and truly supported the local budget via taxes collected off the likes of Rio, BHP, FMG and the other miners.


AUD/USD – 0.7526

AUD/GBP – 0.5548

AUD/EUR – 0.6306

AUD/NZD – 1.0882

AUD/JPY – 82.548

USD/BTC – $8,658


All Ords (XAO) – 6,235

Gold – A$1746/oz

Silver –  A$21.98/oz

WTI – US$71.15/barrel


AUD – Monetary Policy Meeting Minutes at 11.30am

CNY – Industrial Prodn & Retail Sales at noon (AEST)

GBP – Wages Index at 6.30pm

USD – Retail Sales at 10.30pm

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 




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