12th October – Daily Currency Market Report



The Market In Brief:

  • AUD hits fresh highs
  • NZD strengthens
  • GBP Weaker trade balance and construction data
  • Gold $1,155

Market Events Due:

  • FOMC members speak
  • AUD NAB business confidence
  • CNY trade balance
  • GBP Inflation data
  • German Economic sentiment


REFERRALS: Client referrals are a very important part of our business. If you know of any contacts that could benefit from our comprehensive range of international currency transfer services, please do let me know. 

AUD/USD: The Aussie opens higher again this morning building on last week’s momentum and a weaker Greenback. The weak economic data out of the states combined with the RBA leaving rates at 2% has assisted the AUD to levels not seen since August. A very light day of economic data and with numerous global bank holidays the AUD is expected to trade in a tight range throughout the domestic session.

AUD/NZD: The Kiwi was another currency to enjoy a strong week, climbing to near 7 week highs off the back of a weaker US dollar. The market is now waiting for further rate guidance from the RBNZ with any indication that there will not be a cut any time soon sure to boost the currency further.

AUD/GBP: Weaker than expected construction and trade balance data has put a halt to Sterling’s recent ascent. The Pound had been trading at near 3 week highs until the data and opens this morning lower against both the AUD and NZD.

AUD/EUR: The Euro also benefited from a weaker US dollar as well as positive Euro zone data. There is little data of note today so all eyes will be on the FOMC comments to direct this currencies next move.

ALTERNATIVE CURRENCY HEDGING: Ask us about a great alternative to traditional forward contracts that give the ability to cover at attractive levels, but with the flexibility to walk away should the spot rate improve or the contract not be required. 


Jim Devonport

Corporate & HNW Client Manager 



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