Market Update – 24th May 2016 – Aussie Flat Despite 5% Fall In Iron Ore Prices

  

Lower iron ore prices and a fall in European equities sees the Aussie dollar down this morning but only very marginally and with very little data out again today we’re likely to see the Aussie continue to tread water.

Reserve Bank of Australia Governor Glenn Stevens speaks just after 1.00pm today which could result in some AUD volatility but only if he discusses the recent cash rate cut or the potential for future cuts. Ofcourse this will be closely watched by economists and traders but again hard to see the Aussie budging from current levels.

DATA RELEASES TODAY:

AUD – RBA Gov Stevens Speaks at 1.05pm

EUR – Zew Economic Sentiment at 7.00pm

GBP – Inflation Hearings at 7.00pm

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Patrick Downes

Senior Corporate FX Dealer

 

Compass Markets

Contact Patrick for a quote on 0431 278 632 or 03 9099 8459

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