Unfortunately the Aussie dollars rise above 0.7400 hasn’t been sustained and we find ourselves back in the 0.73’s vs. the Greenback this morning, despite a solid night for both European and U.S equities and generally stable commodity prices. AUD/GBP, AUD/EUR and AUD/JPY are also all lower showing that volatility is certainly here to stay. Aussie CPI figures which were released earlier in the week showed somewhat stagnant inflation around 2% annualised which probably puts the likelihood of an interest rate rise on hold for at least the next year or so. Obviously growth and inflation will be the biggest determinant factor in whether the RBA raise rates.
Ahead this evening is U.S Advance GDP figures which will no doubt result in increased volatility around 10.30pm tonight.
AUD EXCHANGE RATES:
AUD/USD – 0.7357
AUD/GBP – 0.5607
AUD/EUR – 0.6307
AUD/NZD – 1.0856
AUD/JPY – 81.832
USD/BTC – $7,960
OTHER MARKETS:
All Ords (XAO) – 6,337
Gold – A$1,658/oz
Silver – A$20.89/oz
WTI – US$69.61/barrel
DATA RELEASES TODAY:
USD – Advance GDP at 10.30pm
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Patrick Downes
Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
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