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.
I was a bit crook last week and away in the early part of this week hence not too many market update’s recently. But I’m feeling better and I’m back into the swing of things. The AUD however still looks a bit sick with AUD/USD languishing under 0.7000, while AUD/EUR remains in a trading range between 0.6200 and 0.6400 – it’s been hovering between these levels since the start of the year.
U.S Fed On Hold:
In overnight news the U.S Fed hosed down speculation that there’ll be any change to interest rates from their current level of 2.5%, citing solid fundamentals and healthy GDP growth as reasons why rates as should remain steady. Equities viewed that as a negative sliding late in the day. US stocks finished lower around half to one percent while European equities closed higher before the US. Fed remarks, the UK FTSE was the exception down 0.44%. Our local market is expected to open half a percent lower, while the AUD looks under real pressure.
Home sales figures out this morning, followed by UK interest rates tonight.
AUD EXCHANGE RATES:
AUD/USD – 0.6986
AUD/GBP – 0.5344
AUD/EUR – 0.6233
AUD/NZD – 1.0558
AUD/JPY – 77.889
All Ords (XAO) – 6,466
Gold – A$1,820/oz
Silver – A$20.95/oz
WTI – US$63.57/barrel
DATA RELEASES TODAY:
AUD – HIA New Home Sales m/m
GBP – BOE Official Bank Rate at 10.00pm
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
DISCLOSURE AND DISCLAIMER – GENERAL ADVICE WARNING
The information provided in this report has been prepared without taking into account your particular objectives, financial situation or needs. You should consider whether our products are appropriate for you and read the FSG and PDS which are available on this website.
This report and must not be copied, either in whole or in part, or distributed to any other person.
All references to prices, amounts and currency are in Australian dollars unless otherwise noted.
This report is provided for Australian residents only and is not intended for use by residents of any other country.