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.
The only detractor overnight was AUD/GBP, with the other AUD crosses moving higher in unison with U.S stocks and metals prices. AUD/USD and AUD/JPY surged around half a percent, while AUD/EUR and AUD/NZD were up a little less, at 0.3%. U.S stocks along with Zinc and Iron ore both gained as a new report suggested Trump insiders were pushing hard for a resolution to trade tensions with China which have persisted for nearly one year. U.S stocks were up on average 0.7% at the close.
2nd Brexit Referendum Discussed:
The Pound rose overnight as deliberations in Parliament suggested a second referendum could be on the cards and held within a year. With all the toing and froing and change of hard of many past Brexit voters it would seem that any second vote would result in a no Brexit conclusion and a return to some normalcy for the U.K after two and a half years in the wilderness. If you’re a budding currency trader a long GBP trade could be quite a good trade during 2019.
U.K retail sales data is out tonight, while Day 2 of G20 meetings continue.
AUD EXCHANGE RATES:
AUD/USD – 0.7160
AUD/GBP – 0.5505
AUD/EUR – 0.6281
AUD/NZD – 1.0603
AUD/JPY – 78.205
USD/BTC – $3,617
All Ords (XAO) – 5,909
Gold – A$1,797/oz
Silver – A$21.59/oz
WTI – US$52.48/barrel
DATA RELEASES TODAY:
All – G20 Meetings
GBP – Retail Sales at 8.30pm
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