Market Update – 30th October 2019 – AUD Gains, Brits Head Back To Polls, CPI & U.S Jobs Numbers Due

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.

AUD Gains & Brexit Update:

We’re up again overnight with the Aussie Dollar adding around half a percent right across the board as RBA Governor Lowe (in a speech at The Australian National University, in Canberra) hosed down any chance of seeing negative interest rates in Australia.

The best performer though was AUD/GBP which is up nearly 1% as the British Parliament passed overnight a bill that will send Brits back to the polling booths in December to cast a definitive vote on Brexit. This could go either way, but you’d have to think we’re now in the final legs of a Brexit outcome here, as such expect more GBP volatility leading up to December 12th.

Local CPI: 

We have another big 24 hours of economic data which kicks off at 11.30am with local CPI numbers. Forecasts are that we’ll see 0.5% growth in quarterly CPI, which would be below last quarter and on trend with the exceptionally low inflation we’ve seen over the past 5 years.

We then get U.S preliminary jobs numbers other wise known as ADP Non-Farm Employment Change at 11.15pm. This is closely followed by U.S GDP numbers and then the U.S Fed Interest Rate decision at 5.00am tomorrow morning. Volatility will be up and about, so those clients happy with current AUD rates and wishing to avoid a lower or higher AUD tomorrow would be best suited to book payments and FX deals before 11.30am this morning.


AUD/USD – 0.6831

AUD/GBP – 0.5300

AUD/EUR – 0.6143

AUD/NZD – 1.0760

AUD/JPY – 74.400


All Ords (XAO) – 6,848

Gold – A$2,167/oz

Silver –  A$25.94/oz

WTI – US$55.51 barrel


AUD – CPI q/q at 11.30am

USD – ADP Non-Farm Employment Change at 11.15pm

USD – Advance GDP q/q at 11.30pm

USD – FOMC Statement and Federal Funds Rate at 5.00am

Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.



Patrick's Signature-802090-edited.jpg

Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 



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.

Leave a Reply

Your email address will not be published.