Market Update – 5th Feb 2020 – AUD Rallies With Equities As Coronavirus Fears Ease

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.

Equities & AUD Rally:

The Aussie Dollar has rallied with equities overnight following a sell off which lasted most of last week and saw the AUD/USD wholesale exchange drop from 0.6850 down to a low of 0.6677. Today we’re in better shape around the 0.6700 figure and if coronavirus fears ease then we may see a sustained rally through the week. Equities across Europe and the U.S performed particularly well bouncing back around 1.5-2% with stock futures trading suggesting perhaps another good night ahead. Our local market is tipped to open nearly 1% higher.

Other than that there is not a great deal further to add. So just a short one from me today. Expect more consistent morning market updates from me as I’m back from a longish hiatus overseas.


AUD/USD – 0.6708

AUD/GBP – 0.5140

AUD/EUR – 0.6069

AUD/NZD – 1.0340

AUD/JPY – 73.464


All Ords (XAO) – 7,047

Gold – A$2,304/oz

Silver –  A$26.13/oz

WTI – US$49.66 barrel


AUD – RBA Gov. Lowe speaks at 12.30pm

USD – ADP Prelim Jobs Number at 12.15am

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 



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