Tuesday
- AUD Monetary Policy Meeting Minutes
The Aussie Dollar
Today at 11:30 am AEST the RBA Monetary Policy Meeting Minutes will be released, which will give us a better insight into their last meeting.
But according to analysts at Credit Suisse, the AUD/USD is likely to continue lower as they see scope for further weakness amid the current Risk-Off Sentiment. We will be watching the markets closely this week to see if the selling pressure will continue.
On one hand, the market will be looking out for more information about the timing and duration of tapering from the upcoming FOMC meeting (Thursday morning at 4 am AEST). On the other, markets will also continue to debate the concern of ongoing global disruptions from the Delta variant and the developments surrounding the Evergrande risk in China.
Historically speaking in times when there is a risk-off sentiment in the global currency markets, safe-haven currencies such as the USD and JPY tend to benefit from the increased flow of funds. Unfortunately, the AUD is widely considered a barometer of risk in the global marketplace, and therefore when there is a risk-off sentiment the AUD generally speaking falls.
If you want to discuss how a Risk-Off Sentiment can affect your business, please get in contact with your account manager or email us at sales@cafx.com.
AUD/USD Daily Chart
Major Global Markets
- Stocks
- S&P 500 closed at 4357
- NASDAQ closed at 15014
- ASX 200 closed at 7248
- Currencies
- AUD/JPY – At the time of writing this report trades at 79.82
- AUD/CNH – At the time of writing this report trades at 4.7019
- DXY (US Dollar Index) – At the time of writing this report trades 93.232
- AUD/EUR – At the time of writing this report trades 0.6189
- Bonds
- US 10-year Bonds remains flat at 1.312%
- Commodities
- Iron Ore – Trading at USD/T 117
- Gold – trading at USD/OZ 1765
- Brent Crude Oil – Trading at USD/Bbl 74.22