Market Update – 18th May 2018 – AUD Stable Despite Higher Unemployment Rate

Quiet day ahead and an exceptionally quiet night for markets so I won’t bore you with a long winded report about nothing. Rather I’ll provide a pretty quick summary.

The Aussie dollar is still range trading with AUD/USD stuck in the 0.74-0.75 range as it has all month, while AUD/GBP and AUD/EUR look comfortable in the 0.55’s and 0.63’s respectively. No data is due out today but we did have employment numbers out yesterday which showed another 22k jobs were created, but the month previous had a revision lower with jobs actually lost in March, which probably explains the jump in the unemployment rate to 5.6%. Participation remains an issue with the number at about 65%, but that could be related to demographics and and ageing population.

Have a lovely weekend.

AUD EXCHANGE RATES:

AUD/USD – 0.7510

AUD/GBP – 0.5554

AUD/EUR – 0.6365

AUD/NZD – 1.0920

AUD/JPY – 83.252

USD/BTC – $7,993

OTHER MARKETS: 

All Ords (XAO) – 6,197

Gold – A$1718/oz

Silver –  A$21.88/oz

WTI – US$71.63/barrel

DATA RELEASES TODAY:

No data

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 

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