Market Update – 19th July 2019 – AUD Moves Higher Despite Weak Employment Numbers

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 Moves Higher:

The Aussie Dollar is up around 1% vs the Greenback and half a percent vs the EURO as positive market sentiment and a more dovish U.S Fed took some shine off the USD. U.S equities rose, led by the S&P500 which was up nearly 0.4% at the close.

Employment Data Weak:

Local employment numbers were released yesterday and showed the second poorest employment growth since early 2017 coming in at just 500 new jobs created. The unemployment rate was unchanged at 5.2%, but the RBAs move to cut interest rates looks well timed.

Other than that, there really isn’t too much going on and there is no economic data released tonight of any real significance. Have a great weekend.

AUD EXCHANGE RATES:

AUD/USD – 0.7032

AUD/GBP – 0.5602

AUD/EUR – 0.6240

AUD/NZD – 1.0391

AUD/JPY – 75.605

OTHER MARKETS:

All Ords (XAO) – 6,735

Gold – A$2,053/oz

Silver –  A$23.20/oz

WTI – US$55.95/barrel

DATA RELEASES TODAY:

None

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 

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