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.
Not a great deal to report this morning given the Aussie Dollar remains reasonably unchanged (with the exception of AUD/USD) since yesterday. AUD/USD was the only currency pair to move a notable amount down 20 points (0.0020) or roughly 0.3% overnight. Overall sentiment was positive to start the week and that was demonstrated by strong gains on stock markets in both Europe and the U.S where equities added as much as 1.3%. The DAX and Nasdaq were the best performers.
RBA Minutes & Jackson Hole:
Again we have a pretty quiet day data wise with only RBA Monetary Policy minutes due at 11.30am this morning. Meeting minutes can move the market though so clients wishing to make payments today and avoid downside risks may wish to book payments ahead of the release.
All eyes then move to the FOMC Meeting Minutes on Thursday morning and Jackson Hole Symposium which kicks off Friday morning our time. The Economic Policy Symposium is held annually and is attended by central bankers, finance ministers, academics, and financial market participants from around the world. Expectations are that topics of discussion will be around the trade war, economic growth and how to tackle persistent weak inflation. Expect some fireworks Friday night as participants begin talking to reporters at the end of Day 1.
AUD EXCHANGE RATES:
AUD/USD – 0.6734
AUD/GBP – 0.5547
AUD/EUR – 0.6072
AUD/NZD – 1.0520
AUD/JPY – 71.811
All Ords (XAO) – 6,550
Gold – A$2,212/oz
Silver – A$24.98/oz
WTI – US$56.01/barrel
DATA RELEASES TODAY:
AUD – Monetary Policy Meeting Minutes at 11.30am
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Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
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