Commodities and equities had a bumper session overnight with the biggest winners being oil up as much as 1.4%, while for equities the NASDAQ was the best performer in the U.S up 2.00% and in Europe the Euro Stoxx 50 surged 2.63%. The solid gains overseas point to a pretty solid day for local equities today with All Ords. futures suggesting gains in excess of 1%.
The same can’t be said for the Aussie dollar which continues to succumb to U.S dollar strength and a British pound which continues to surge leading up to their Brexit referendum next month. AUD/GBP was the worst perform down over 1%, while AUD/USD touched a three month low of 0.7145 overnight.
Another quiet day data wise, with only German IFO Business climate released tonight.
DATA RELEASES TODAY:
EUR – German IFO Business Climate at 6.00pm
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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
