The Aussie dollar made up lost ground Friday evening posting gains against the EURO, USD and Great British Pound despite again weaker metals prices. We also saw Trump and Kim Jong Un continue to trade insults with Kim Jong Un seemingly getting the better of Trump via the use of a little known word ‘dotard’…Trump had previously suggested he may wipe out ‘rocket man’ and his regime. Equity markets have managed to remain calm despite the renewed escalation in rhetoric on both sides but certainly it appears we haven’t seen the end of this feud.
German and French manufacturing and services PMI all came in better than expected Friday evening helping to boost European equities while the election of German Chancellor Angela Merkel to a fourth straight term may help the German DAX to post gains when markets open later this evening.
Speeches from various FOMC members and one from ECB President Draghi will take place this evening while RBA Assistant Governor Bullock will speak at a function tomorrow morning. Probably the most likely to move markets will be the speech from RBA Ass. Gov. Bullock and this will happen around 7.15am tomorrow morning.
AUD EXCHANGE RATES:
AUD/USD – 0.7955
AUD/GBP – 0.5888
AUD/EUR – 0.6671
AUD/NZD – 1.0882
AUD/JPY – 89.383
DATA RELEASES TODAY:
EUR – EBC President Draghi Speaks at 11.00pm
AUD – RBA Ass. Gov. Bullock Speaks at 7.15am
***Above rates are indicative wholesale rates and intended as a guide only***
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