The Aussie dollar is lower again today marking what could be a sixth session of losses for the local currency vs. the Greenback while AUD/GBP has fallen during 9 out of the past 10 days. The recent Aussie weakness probably stems from weakness in commodity prices but also a resurgent U.S dollar and improving sentiment in the U.K. following the immediate and dramatic fallout from Brexit. Also its important to note that over night we saw that far fewer people filed for unemployment benefits in the the last month while the unemployment rate unexpectedly dropped to just 4.9%.
Ahead today is U.K retail sales figures followed an ECB press conference and U.S manufacturing data.
DATA RELEASES TODAY:
GBP – Retail Sales at 6.30pm
EUR – ECB Press Conference at 10.30pm
USD – Philly Fed Manufacturing Index at 10.30pm
AUD EXCHANGE RATES:
AUD/USD – 0.7465
AUD/GBP – 0.5642
AUD/EUR – 0.6772
AUD/NZD – 1.0727
AUD/JPY – 79.964
***Above rates are indiciative wholesale rates and intended as a quide only***
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Patrick Downes
Senior Corporate FX Dealer
Compass Markets
Contact Patrick for a quote on 0431 278 632
