Market Update – 18th March 2019 – AUD Little Changed During Friday, Brexit Negotiations Continue

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.

I can report this morning that there is very little to report in financial markets; of course though the whole Compass team share in sending our condolences to the Christchurch community and Muslim community worldwide.

AUD Little Changed:

The AUD is in much the same position as Thursday morning, with very little movement in any of the majors during Fridays session or over the weekend. AUD/USD continues to meander between 0.7000 and 0.7100, while AUD/GBP could be set to test support again around the 0.5300 level as we hear what’s next for Brexit negotiations.

No Economic Data: 

No economic data is due out today, however our local equities market should open higher this morning thanks to a strong finish in the U.S and Europe on Friday evening. Commodities prices remain robust with the low AUD helping to support profit margins for the major miners and exporters as a whole.

AUD EXCHANGE RATES:

AUD/USD – 0.7054

AUD/GBP – 0.5294

AUD/EUR – 0.6225

AUD/NZD – 1.0315

AUD/JPY – 78.688

OTHER MARKETS:

All Ords (XAO) – 6,265

Gold – A$1,884/oz

Silver –  A$21.57/oz

WTI – US$58.57/barrel

DATA RELEASES TODAY:

No economic data

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 

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