Market Update – 17th May 2016 – Markets Led By Iron Ore and U.S Equities Push Higher

  

Commodities and equities led markets higher overnight with oil and iron ore the stand outs for commodities while U.S equities gained about 1% across the board. The strong rebound in global equities and iron ore prices helped the Aussie dollar to rally to levels not seen since last Friday.

Local equities should perform well today, but we do have RBA Monetary Policy Minutes due out this morning which could see volatile trade for the Aussie dollar around 11.30am.

DATA RELEASES TODAY:

AUD – Monetary Policy Meeting Minutes at 11.30am

GBP – CPI y/y at 6.30pm

USD – Building Permits and CPI at 10.30pm

Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.

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Contact Patrick for a quote on 0431 278 632

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