Market Update – 19th February 2019 – AUD/USD Moves Higher On Positive Sentiment

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.

AUD/USD Lift:

We’ve had a nice little uplift in AUD/USD since my last report on Thursday or Friday with a spike above 0.7150 thrown in yesterday, right now we aren’t too far off the 0.7100 figure. But murmuring’s from bank economists and other places suggest the Aussie Dollar at current level’s is an opportunity for importers as opposed to a sign of things to come, with the bias for AUD/USD definitely to the downside. Some forecasts are as low as 0.6500.

RBA Minutes Due: 

The other AUD crosses are also a bit higher than last week, but not by as much. Local Monetary Policy Minutes from the RBAs latest meeting are due out this morning at 11.30am.

In other news, U.S stocks generally moved higher overnight while the UK FTSE was the only detractor amongst European Indices.

AUD EXCHANGE RATES:

AUD/USD – 0.7096

AUD/GBP – 0.5483

AUD/EUR – 0.6270

AUD/NZD – 1.0371

AUD/JPY – 78.516

OTHER MARKETS:

All Ords (XAO) – 6,172

Gold – A$1,860/oz

Silver –  A$22.16/oz

WTI – US$56.39/barrel

DATA RELEASES TODAY:

AUD – Monetary Policy Meeting Minutes at 11.30am

GBP – Average Earnings Index 3m/y at 8.30pm

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 

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