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.
U.S stocks continued to make gains overnight on trade optimism with the Dow Jones surging pass 28,100 to a fresh record high. At the same time the local ASX has performed well with ASX200 futures suggesting we’ll finally surpass the highs of November 2007.
The Aussie Dollar hasn’t really moved since my last report on Tuesday and in the absence of economic data this week is likely to move much at all until the RBA cash rate decision next Tuesday. Expectations are that the RBA will hold rates steady at 0.75%.
It’s Thanksgiving in the U.S tonight, meaning a Bank Holiday and no USD payments will be processed. Payments will go out Friday evening.
AUD EXCHANGE RATES:
AUD/USD – 0.6745
AUD/GBP – 0.5218
AUD/EUR – 0.6128
AUD/NZD – 1.0521
AUD/JPY – 73.925
All Ords (XAO) – 6,950
Gold – A$2,147/oz
Silver – A$25.02/oz
WTI – US$58.05 barrel
DATA RELEASES TODAY:
AUD – Private Capital Expenditure q/q at 11.30am
USD – Bank Holiday overnight
Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.
Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
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