Quick Message: We do Spot payments, Forwards and basic Vanilla Options which enables our clients to quickly process their payments and when applicable hedge any open foreign currency exposures they may have. Call me if you’d like to hear more about our Forward and Option alternatives.
A Yellen speech over the weekend in which the Fed Chair reiterated the continuation of rate normalization and reduction in their balance sheet was enough to push the U.S dollar higher over the weekend and see AUD/USD trace back towards the 0.78 figure. We also saw U.S equities post further strong gains Friday night with the DOW the best performer up 0.8% and the chart now almost appearing vertical. U.S equities are up around 30% in the past 12 months, and up nearly 360% since March 2009. Is it a bubble? It sure is, but there’s also no catalyst in sight to see an end to the bull market. Having said that, with the 30 year anniversary of the 87′ crash last week, it certainly suggests those long U.S equities should tread carefully.
No data is out today and we have a New Zealand bank holiday meaning no Kiwi payments will be sent out.
AUD EXCHANGE RATES:
AUD/USD – 0.7812
AUD/GBP – 0.5922
AUD/EUR – 0.6637
AUD/NZD – 1.1244
AUD/JPY – 88.940
COMMODITIES:
Gold – A$1638/oz
Silver – A$21.81/oz
WTI – US$52.05/barrel
DATA RELEASES TODAY:
NZD – Bank Holiday in New Zealand
***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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