Global equities, commodities and the Aussie dollar all pushed higher overnight as tensions between North Korea and the rest of the world eased and better than expected U.S economic data boosted appetite for riskier investments. The Aussie dollar managed to make gains of about half a percent vs. the Greenback and Euro while the best performing stocks were in the tech-heavy NASDAQ which pushed higher to the tune of around 1%.
AUD/USD failed to push below 0.7900, finding support once again and bouncing and the Aussie dollar now looks to ave tapered its trading range further to between 0.7900 and 0.8000 on the top side.
Not much economic data is out today, but we do have a bit tonight in U.K manufacturing PMI and more importantly U.S non-farm payrolls data – i.e. employment numbers. The market is hoping to see a continuation of jobs growth with 180K new jobs created and a steady unemployment rate at 4.3%. But with a strong GDP number out of the U.S on Wednesday night we could well see another USD rally should employment beat estimates.
AUD EXCHANGE RATES:
AUD/USD – 0.7944
AUD/GBP – 0.6141
AUD/EUR – 0.6662
AUD/NZD – 1.1089
AUD/JPY – 87.353
DATA RELEASES TODAY:
GBP – Manufacturing PMI at 6.30pm
USD – Non-Farm Payrolls and Unemployment at 10.30pm
USD – ISM Manufacturing PMI at midnight
***Above rates are indicative wholesale rates and intended as a guide only***
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Patrick Downes
Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
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