Market Update – 18th July 2018 – Equities Rally, GBP Falls On Weak Employment Data

Just a very short one this morning as I’m running a bit behind schedule. In the U.K jobs and wages data was released overnight and showed little growth in wages and employment but a ratcheting up in the number of people claiming unemployment benefits – the result helped AUD/GBP to move through 0.5600. In the U.S on Monday night, retail sales beat estimates for the latest month whilst the previous month was also revised higher as new/better information came to light. The U.S has seen a resurgence in retail sales numbers over the past few months which bodes well for the U.S economy and retail in general which has been in the doldrums of late.

U.S and European equities moved higher overnight with local ASX futures suggesting we’ll open around half a percent higher this morning. Commodities remain under pressure, particularly Zinc which is used to galvanise steel, however metals in general may be due for a better period ahead given the correction we’ve seen over the past few months.


AUD/USD – 0.7365

AUD/GBP – 0.5610

AUD/EUR – 0.6313

AUD/NZD – 1.0877

AUD/JPY – 83.191

USD/BTC – $7,333


All Ords (XAO) – 6,288

Gold – A$1,662/oz

Silver –  A$21.10/oz

WTI – US$66.88/barrel


GBP – CPI at 6.30pm

USD – Building Permits at 10.30pm

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 




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