Market Update – 22nd January 2018 – AUD/USD Holding Just Under 0.8000

No data releases today and in fact not a great deal due this week. The only notable economic announcements relate to the ECBs latest interest rate decision on Thursday night (known as the Minimum Bid Rate) along with U.K and U.S GDP figures due Friday evening, I’ll write more about this later in the week.

The AUD has barely changed since Friday morning, with all currency pairs more or less in the same position bar AUD/EUR and AUD/JPY which are both down about 40 points respectively. AUD/USD is still struggling to move and hold above 0.8000 however momentum is certainly on it’s side and should we see more of the same then you could probably expect AUD/USD at some point this week to break above 0.8000 on the wholesale market.

The Aussie share market looks set to open higher on stronger commodities prices with the ASX 200 futures suggesting a 0.4% improvement today.

AUD EXCHANGE RATES:

AUD/USD – 0.7998

AUD/GBP – 0.5755

AUD/EUR – 0.6519

AUD/NZD – 1.0981

AUD/JPY – 88.443

USD/BTC – $11,218

COMMODITIES: 

Gold – A$1664/oz

Silver –  A$21.28/oz

WTI – US$63.45/barrel

DATA RELEASES TODAY:

EUR – Eurogroup Meetings – All day

***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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