AUD is lower across the board this morning following stronger than expected economic data out of the U.S, U.K and Europe which has added further economic wind to the sails of their respective currencies. AUD/USD has consolidated below 0.78 and may be headed lower, while AUD/EUR and AUD/GBP have both lost considerable ground over the past 8-9 months with probably more of the same expected. For those clients importing in EURO or GBP it would certainly be worthwhile looking at some form of hedging arrangement to manage risk of further declines in the Aussie dollar.
There is no economic data released today locally or abroad and there is an addition bank holidays in Japan, the U.S and Canada, so payments to these countries will be delayed one day.
AUD EXCHANGE RATES:
AUD/USD – 0.7772
AUD/GBP – 0.5935
AUD/EUR – 0.6622
AUD/NZD – 1.0997
AUD/JPY – 87.513
COMMODITIES:
Gold – A$1641/oz
Silver – A$21.64/oz
WTI – US$49.41/barrel
DATA RELEASES TODAY:
No data today or tonight
Bank holidays for Japan today, US and Canada tonight
***Above rates are indicative wholesale rates and intended as a guide only***
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Patrick Downes
Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
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