Market Update – 26th April 2017 – Aussie On The Back Foot Ahead Of CPI This Morning

While we took a moment yesterday to remember those lost in war the rest of the world mostly carried on with business, however on the most part there wasn’t really a great deal of economic data released yesterday with only U.S CB consumer confidence which came in around midnight last night. The data which is released monthly and is a survey of households and their relative economic situation came in marginally below last months reading which peaked at 125.6 (the highest level since the heady days of the tech boom) – read into that what you like.

The Aussie dollar has continued its slow and steady decline over the past 48 hours and is marginally lower across the board. AUD/GBP is probably the worst performer again down around 1% since the start of trade yesterday morning.

Aussie CPI is released at 11.30am and is expected to show around 0.6% growth for the quarter which would be around on trend for the past few years. Obviously CPI plays a huge factor in determing the Aussies direction so markets will be watching closely for any signs of increased inflation or deflation risk.

DATA RELEASES TODAY:

AUD – CPI at 11.30am

AUD EXCHANGE RATES:

AUD/USD – 0.7487

AUD/GBP – 0.5821

AUD/EUR – 0.6846

AUD/NZD – 1.0793

AUD/JPY – 83.227

***Above rates are indicative wholesale rates and intended as a guide only***

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Patrick Downes

Senior Corporate FX Dealer

Compass Markets

Phone Patrick – 0431 278 632 

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