AUD/USD is higher again today stringing together a fifth consecutive day of gains vs the so called Greenback. Unfortunately, the same cant be said for the other majors with the AUD lower against the Pound, Euro, Kiwi and Yen since this time yesterday. U.S producer prices overnight came in bang on expectations while the local Aussie unemployment rate yesterday remained at 5.5% with approximately 16,000 new jobs created.
U.S equities have continued to bounce back following their worst losses in two years with the Dow Jones now back to levels last seen in mid January. The Aussie share market however when you use the ASX200 as a guide is still meandering around October levels in a much more subdued recovery to the losses we saw last week.
Ahead this morning is a speech from RBA Governor Lowe, followed by UK retail sales at 8.30pm and U.S building permits just after midnight today AEST. UK retail sales is the one which poses the greatest risks as such those clients with AUD/GBP requirements may be well served to avoid the risk of further declines in AUD/GBP by either hedging exposures or booking a portion of upcoming GBP payments.
AUD EXCHANGE RATES:
AUD/USD – 0.7937
AUD/GBP – 0.5631
AUD/EUR – 0.6349
AUD/NZD – 1.0723
AUD/JPY – 84.203
USD/BTC – $9,969
Gold – A$1704/oz
Silver – A$21.26/oz
WTI – US$61.24/barrel
DATA RELEASES TODAY:
AUD – RBA Governor Lowe Speaks at 9.30am
GBP – Retail Sales at 8.30pm
USD – Building Permits at 12.30am (tomorrow morning)
***Above rates are indicative wholesale rates and intended as a guide only***
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Phone Patrick – 0431 278 632