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.
I hope you all had a lovely long weekend and I’ve heard rumours some are taking this week off as well to turn it into an extra long break. Good on them. We all work way too hard!
Currency markets reopened yesterday morning but reopened with the absence of most G20 nations who celebrate the Easter Break, as such officially today is when currency markets regain the majority of their liquidity. The AUD has opened up around half a percent lower across the board, with the exception of the NZD, which we’ve continued to make gains against. AUD/USD remains above 0.7100 on the inter-bank market with 0.7200 a level we simply cannot break. Attempts have been made since late January, but all to no avail with an inevitable sell off occuring whenever we reach the 0.7200 figure.
No data is out today and light liquidity is expected to persist until Europe and the U.S come back online later this evening. Aussie CPI figures are due tomorrow ahead of the ANZAC Day holiday, with local import prices and U.S Advance GDP rounding out the week on Friday.
AUD EXCHANGE RATES:
AUD/USD – 0.7103
AUD/GBP – 0.5462
AUD/EUR – 0.6304
AUD/NZD – 1.0645
AUD/JPY – 79.525
All Ords (XAO) – 6,349
Gold – A$1,787/oz
Silver – A$21.04/oz
WTI – US$65.65/barrel
DATA RELEASES TODAY:
Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.
Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
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