Market Update – 22nd November 2019 – AUD Drifts Lower With Equities As Traders Reassess

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 Drifts Lower:

Stocks dipped across Europe and the U.S and the Aussie fell overnight as sea-sawing trade negotiations between the WH and China and a damning impeachment inquiry caused investors to reassess their positions leading into the weekend. AUD/USD and the other AUD crosses are all down over half a percent while the Australian All Ords Index has crumbled 120 points or nearly 2% since Wednesday morning, but is tipped to open half a percent higher this morning.

Manufacturing and Services Data:

Economic data due out today consists mainly of manufacturing and services PMI data out of Europe and also locally, however our manufacturing and services data doesn’t tend to be a market mover. As a large manufacturing hub driven by German, France and the UK, this European data though provides a real insight into the health of the European economy as such it’ll be watched closely this evening. Expectations are for marginal improvement across all metrics tonight which could provide a boost for European stock markets.


AUD/USD – 0.6756

AUD/GBP – 0.5227

AUD/EUR – 0.6103

AUD/NZD – 1.0564

AUD/JPY – 73.411


All Ords (XAO) – 6,777

Gold – A$2,158/oz

Silver –  A$25.21/oz

WTI – US$58.32 barrel


EUR – German Flash Manufacturing and Services PMI at 7.30pm

GBP – Flash Manufacturing and Services PMI at 8.30pm

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 



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