Market Update – 23th April 2019 – AUD Slips Amid Light Liquidity Following Easter Break

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!

AUD Lower:

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.

Upcoming Data:

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

OTHER MARKETS:

All Ords (XAO) – 6,349

Gold – A$1,787/oz

Silver –  A$21.04/oz

WTI – US$65.65/barrel

DATA RELEASES TODAY:

No Data

Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.

 

{{cta(‘b4d1fdf3-9b81-4df4-87c2-23257194f470’)}} 

Patrick's Signature-802090-edited.jpg

Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 

  {{cta(’22fd720b-8ddc-4846-85e4-6ab59d459f68′)}}

CompassFB-1

 DISCLOSURE AND DISCLAIMER – GENERAL ADVICE WARNING
The information provided in this report has been prepared without taking into account your particular objectives, financial situation or needs. You should consider whether our products are appropriate for you and read the FSG and PDS which are available on this website.
This report and must not be copied, either in whole or in part, or distributed to any other person.
All references to prices, amounts and currency are in Australian dollars unless otherwise noted.
This report is provided for Australian residents only and is not intended for use by residents of any other country.

Leave a Reply

Your email address will not be published.