Market Update – 31st October 2018 – AUD Leaps As Risk Sentiment Turns Positive

Positive risk sentiment flooded markets overnight sending AUD and U.S equities higher during a volatile session. The Dow Jones leapt 430 points or 1.77% to finish at 24,874 while the AUD rallied around 0.75% vs the Greenback and even more vs. the GBP and JPY. Risk havens such as the Japanese Yen and Gold fell.

In the only economic data released overnight, U.S Consumer Confidence figures beat estimates coming in at 137 vs. the 136 prediction. Ahead today is local CPI numbers with economists predicting a 0.5% increase in CPI for the latest quarter. The previous quarters reading was 0.4%. Other than that, there really isn’t a great deal to talk about.

AUD EXCHANGE RATES:

AUD/USD – 0.7071

AUD/GBP – 0.5555

AUD/EUR – 0.6230

AUD/NZD – 1.0801

AUD/JPY – 80.003

USD/BTC – $6,242

OTHER MARKETS: 

All Ords (XAO) – 5,887

Gold – A$1,721/oz

Silver –  A$20.37/oz

WTI – US$66.39/barrel

DATA RELEASES TODAY:

AUD – CPI at 11.30am

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 

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