Market Update – 21st October 2019 – AUD Makes Gains, While Brexit And Trade Deal Negotiations Continue

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.

AUD Gains: 

The AUD gained through Thursday, Friday and the weekend managing to move above 0.6800 vs. the Greenback while wrestling back some lost ground vs. the Pound, Euro and Japanese Yen. The reason for the moves can be traced back to the Unemployment Rate and Employment numbers which were released Thursday morning and showed a surprise down tick in the unemployment rate to 5.2% along with around 15,000 new jobs. The better jobs numbers locally coincided with poorer U.S economic data which suggests further rates cuts from the U.S Fed are likely. As it stands the official cash rate in Australia is 0.75%, while the U.S still leads the pack with a Fed Funds Rate of 2.00%.

Equities Lower, Brexit/Trade Deal:

No economic data is released today, however stock markets in Europe and the U.S ended the week on a negative note with the Dow the worst performer down 0.95%, while in Europe the French CAC led falls, down 0.65%. Our local market is set to open pretty flat, however things could change dramatically once we get some early news flow this morning. Major stories and market movers continue to be the U.S/China trade deal along with Brexit shenanigans.


AUD/USD – 0.6814

AUD/GBP – 0.5250

AUD/EUR – 0.6100

AUD/NZD – 1.0687

AUD/JPY – 73.878


All Ords (XAO) – 6,758

Gold – A$2,174/oz

Silver –  A$25.60/oz

WTI – US$53.77 barrel


No data.

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 



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