Equities across Europe and Asia extended gains over night and yesterday pushing the ASX200 to a 1.1% gain over the past 12 months and a whopping 18% year to date gain. Given the reasonably quiet evening in terms of data releases we weren’t expecting to see too much movement in the Aussie dollar, but the bullish momentum continued with AUD/USD back above 0.7650, while AUD/GBP is back above 0.5870, after nearly falling below 0.5800 yesterday.
Ahead today is NAB Business Confidence at 11.30am while Chinese inflation figures are delivered around the same time. U.K manufacturing is released at 6.30pm.
DATA RELEASES TODAY:
AUD – NAB Business Confidence at 11.30am
GBP – Manufacturing Production at 6.30pm
AUD EXCHANGE RATES:
AUD/USD – 0.7654
AUD/GBP – 0.5871
AUD/EUR – 0.6908
AUD/NZD – 1.0718
AUD/JPY – 78.366
***Above rates are indicative wholesale rates and intended as a guide only***
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Patrick Downes
Senior Corporate FX Dealer
Compass Markets
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