Market Update – 3rd April 2017 – Aussie Retail Sales To Kick Off Cash Rate Week

**Thanks very much to the many clients who emailed me Friday to notify me I had made an error with the exchange rates in my morning market update – it’s nice to know people read what I put out each morning**

In reality however the Aussie dollar moved very little Friday and over the weekend and remains around levels we saw for most of last week. U.S and Asian stocks retreated Friday, however European equities bucked that trend finishing mostly higher – the standout was the French CAC which rallied some 0.65% as the left leaning Emmanuel Macron leads in the French National Election polls.

Ahead today is local Aussie retail sales and estimates suggest the figure to come in around the rather subdued level of 0.3%. I say subdued as we’ve in the past been known to see figures as high as 1%, however in the last 3 or so years those sorts of numbers have become exceptionally rare in what is a stagnant Aussie retail environment.


AUD – Retail Sales at 11.30am

GBP –  Manufacturing PMI at 6.30pm

USD – ISM Manufacturing PMI at midnight AEST


AUD/USD – 0.7583

AUD/GBP – 0.6031

AUD/EUR – 0.7107

AUD/NZD – 1.0854

AUD/JPY – 84.537

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

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Patrick Downes

Senior Corporate FX Dealer

Compass Markets

Phone Patrick – 0431 278 632 




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