Market Update – 1st July 2019 – Risk Assets Rise As Trump Signals Trade Talks Back On

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.

Risk On:

Risk is back on this morning thanks to ‘progress’ made at the G20 in Tokyo between the Donald and Chinese President Xi Jinping. At their latest soiree, the two agreed not to raise tariffs but rather re-invigorate talks which had gone cold as a result of Trump’s inability to do a deal or even negotiate like a grown up; not surprising though for a man who has gone bankrupt a total of six times. I digress.

Gold, Yen, USD Dip:

Risk assets such as the AUD, equities and commodities have all risen and look likely to continue to make gains through the day while traditional safe haven’s like Gold, the Japanese Yen and the U.S Dollar are all struggling this AM. What ends this trade war between China and Trump remains to be seen and the truth is any real cessation of animosity could still be years away; in the meantime global growth has waned while central banks across the globe look likely to continue with stimulus measures.

Chinese manufacturing PMI is due out at 11.45am followed by U.S ISM manufacturing PMI at midnight this evening AEST.


AUD/USD – 0.6997

AUD/GBP – 0.5505

AUD/EUR – 0.6153

AUD/NZD – 1.0425

AUD/JPY – 75.849


All Ords (XAO) – 6,699

Gold – A$1,980/oz

Silver –  A$21.59/oz

WTI – US$59.46/barrel


CNY – Caixin Manufacturing PMI at 11.45am

USD – ISM Manufacturing PMI at midnight

Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.



Patrick's Signature-802090-edited.jpg

Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 



The information provided in this report has been prepared without taking into account your particular objectives, financial situation or needs. You should consider whether our products are appropriate for you and read the FSG and PDS which are available on this website.
This report and must not be copied, either in whole or in part, or distributed to any other person.
All references to prices, amounts and currency are in Australian dollars unless otherwise noted.
This report is provided for Australian residents only and is not intended for use by residents of any other country.

Leave a Reply

Your email address will not be published.