Market Update – 27th July 2018 – AUD/USD Cannot Hold Above 0.7400

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

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

 

Leave a Reply

Your email address will not be published.