The Aussie dollar has surged past 0.7700 overnight, providing importers yet another opportunity to hedge their upcoming exposures at levels seen only on two or three occasions in the past six months. For importers wishing to purchase EUR and GBP the deal gets even sweeter with both AUD/EUR and AUD/GBP reaching fresh highs overnight at 0.7030 and 0.6280 respectively.
US and European equities along with commodities also performed quite well thanks to improving growth/inflation numbers in China and to a lesser degree in the U.S and U.K. Gold not surprisingly has back tracked.
DATA RELEASES TODAY:
AUD – Employment Figures at 11.30am
GBP – Retail Sales at 7.30pm
EUR – Interest Rate Decision at 10.45pm
USD – Philly Fed Manufacturing Index at 11.30pm
AUD EXCHANGE RATES:
AUD/USD – 0.7703
AUD/GBP – 0.6258
AUD/EUR – 0.7013
AUD/NZD – 1.0655
AUD/JPY – 79.60
***Above rates are indicative wholesale rates and intended as a guide only***
Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.
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Patrick Downes
Senior Corporate FX Dealer
Compass Markets
Phone Patrick – +61 03 9099 8459
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