Market Update – 31st January 2018 – Markets Sea of Red This Morning, AUD Lower

A sea of red greets us this morning with markets seemingly in take profit mode as we inch towards the end of a pretty strong January for markets. Wall Street’s Dow Jones led equities lower, losing around 1.4% in frenzied selling which has become somewhat of a rarity in recent times. Overall U.S and European equities finished lower by about 1%, but we also saw profit taking across the commodities sector and in the crypto space with Bitcoin back under pressure as U.S regulators subpoenaed Bitfiniex – one of the largest crypto exchanges – as fears mount their private crypto currency Tether (which is pegged to 1USD) could be a massive ponzi scheme.

In better news yesterday, NAB Business Confidence improved, while a resurgent Japanese retail sector posted its best number in nearly 3 years up 3.6%.

Ahead today is Aussie CPI figures at 11.30am with markets expecting to see around 0.7% inflation for the latest quarter. Around 1.00pm today is Trumpy’s State of The Union address which will no doubt be entertaining as the unlikely President tries to stick to a pre written address. All eyes and ears will be on Trump as he outlines his plans for the U.S whether it be infrastructure spending, immigration matters or something else.


AUD/USD – 0.8079

AUD/GBP – 0.5711

AUD/EUR – 0.6516

AUD/NZD – 1.1021

AUD/JPY – 87.921

USD/BTC – $10,131


Gold – A$1655/oz

Silver –  A$21.20/oz

WTI – US$64.29/barrel


AUD – CPI at 11.30am

USD – State of the Union Address at 1.00pm

***Above rates are indicative wholesale rates and intended as a guide only***

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 




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