Key Data Being Released Today.
Tuesday:
- FOMC Member Brainard Speaks (Federal Reserve Governor Lael Brainard)
- BOE Gov Bailey Speaks
- AUD Retail Sales m/m: Exp. -2.5%
The Aussie Dollar
Overnight the Aussie Dollar is struggling to keep the momentum of Monday’s rebound, failing to trade above 0.7300.
The sluggish mood in the market could be due to the cautious sentiment ahead of the preliminary readings of Australia Retail Sales for August which will be released at 11:30 am AEST today.
The Market could also have taken clues from the prepared remarks of Fed Chair Jerome Powell’s testimony. Fed Chair Powell cited inflation and employment concerns while saying, “We would certainly respond and use our tools to ensure that inflation runs at levels that are consistent with our goal.”
Additionally, the US Dollar Index (DXY) also benefited from firmer Treasury yields, underpinned by the Fed tapering concerns, as well as upbeat US Durable Goods Orders for August, 1.8% versus 0.7% forecast.
If you want to discuss how a how these events 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 4455
- NASDAQ closed at 15190
- ASX 200 closed at 7384
- Currencies
- AUD/JPY – At the time of writing this report trades at 80.84
- AUD/CNH – At the time of writing this report trades at 4.7011
- DXY (US Dollar Index) – At the time of writing this report trades 93.41
- AUD/EUR – At the time of writing this report trades 0.6225
- Bonds
- US 10-year Bonds have continued to rise, currently at 1.491%
- Commodities
- Iron Ore – Trading at USD/T 120.2
- Gold – trading at USD/OZ 1750
- Brent Crude Oil – Trading at USD/Bbl 79.36