I hope everyone enjoyed their respective weekends/long weekend and of course backed a few winners at Flemington yesterday.
The Aussie dollar has continued to be quite buoyant vs. the majors including the Greenback despite continued strong economic numebrs out of the U.S that suggest a rate hike is close to a certainty in December following Presidential elections. AUD/USD has continued to seasaw between 0.7300-0.7650 and surprise this morning is still in this range.
Aussie economic data has also been improving thanks to a bit of a bounce in commoditiy prices and also inflation figures. More Aussie data is due today in building approvals while tonight we’ll see preliminary ADP non-farm employment figures (pre-cursor to Friday night official Non-Farm employment figure) followed by an expected non-decision from the U.S Federal Reserve on interest rates. As mentioned above most think the much anticipated second rate hike will take place in December exactly one year after the first.
DATA RELEASES TODAY:
AUD – Building Approvals at 11.30am
GBP – Construction PMI at 8.30pm
USD – Prelim ADP Non-Farm Employment at 11.15pm
USD – FOMC Funds Rate at 5.00am
AUD EXCHANGE RATES:
AUD/USD – 0.7636
AUD/GBP – 0.6231
AUD/EUR – 0.6902
AUD/NZD – 1.0600
AUD/JPY – 79.43
***Above rates are indicative wholesale rates and intended as a guide only***
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 – +61 03 9099 8459