Stable commodities prices and weaker than anticipated preliminary U.S jobs numbers sees AUD marginally lower today vs. the Greenback, EURO and Pound but remains near two year highs vs the Greenback.
Ahead this morning is local trade balance figures, followed by the Bank of England’s interest rate decision and U.S non-manufacturing PMI data later this evening. The real driver for the AUD at present appears to be commodity prices particularly iron ore while the performance of Trump in the U.S also has a tendency to move AUD/USD. If Trump is able to get his infrastructure plans through Congress he should see a bump in not only his approval rating but also a bump in the USD. However at this stage it doesn’t appear he is able to perform even the simplest of tasks as such AUD/USD could well continue to drift higher with the Greenback well and truly out of favour.
AUD EXCHANGE RATES:
AUD/USD – 0.7963
AUD/GBP – 0.6021
AUD/EUR – 0.6716
AUD/NZD – 1.0732
AUD/JPY – 88.159
DATA RELEASES TODAY:
AUD – Trade Balance Figures at 11.30am
GBP – Bank of England Rates Announcement at 9.00pm
USD – ISM Non-Manufacturing PMI at midnight
***Above rates are indicative wholesale rates and intended as a guide only***
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