Welcome to our daily market update where we help keep you informed on the latest happenings in the world of FX and show you what this means for the Mighty Aussie Dollar.
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Key Data Being Released Today
United States – Initial Jobless Claims, Manufacturing and Markit PMI.
United Kingdom – Manufacturing and Markit PMI.
Eurozone – Manufacturing and Markit PMI.
Macro Report
Major currencies were mixed against the US dollar in European and US trade. The Aussie dollar rose from lows near US74.50 cents to highs near US75 cents and was near session highs at the US close. The Euro fell from highs near US$1.1040 to lows near US$1.0965 and was near US$1.1005 at the US close.
In geopolitical news, Secretary of State Antony Blinken announced that the US government formally accused Russian troops of committing war crimes in Ukraine. US President Joe Biden will meet his European NATO counterparts on Thursday, and more sanctions on Moscow are expected to be announced. Leaders will also discuss the Iran nuclear deal.
Oil prices rose in volatile overnight trading on, up by about 5%, supported by disruption of Russian and Kazakh crude exports via the Caspian Pipeline and worries over tight global supplies.
Treasuries staged a small recovery from unprecedented losses ahead of tighter monetary policy to curb inflation. The yield on 10-year Treasury notes was down 7.6 basis points to 2.301%, and the two-year yield fell 5 points to near 2.105%.
Basse metal prices rose, with nickel up the most, 15%, and zinc up 6.1%. Copper and tin rose by 1.8%. Gold was up 0.8%
Ahead, in the US, data on durable goods orders is released with the purchasing managers index, weekly jobless claims, the current account, and Kansas Federal Reserve survey. Markets will also be monitoring comments from central bankers around the globe.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
| Currencies | Level | Change (%) |
| AUD/USD | 0.7495 | 0.0000 |
| AUD/JPY | 90.76 | 0.0000 |
| AUD/CNH | 4.7905 | 0.0000 |
| DXY | 98.612 | 0.0000 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 2.2971 | 0.00 |
| Aus 10 year | 2.69 | 0.05 |
| Equities | Level | Change (%) |
| S&P 500 | 4456 | -1.2 |
| NASDAQ | 13992 | -1.3 |
| ASX 200 | 7377 | 0 |
| Commodities | Level | Change (%) |
| Iron Ore | 148.92 | 0.30 |
| Gold | 1937.30 | 0.08 |
| Brent Crude oil | 121.6 | 5.3% |