Welcome to our daily market update, where we help keep you informed on the latest happenings in the world of FX.
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Key Data Being Released Today
| Japan | – | Tokyo Core CPI (YoY) (Oct) | |||
| CPI Tokyo Ex Food and Energy (MoM) (Oct) | |||||
| BoJ Interest Rate Decision | |||||
| Australia | – | ANZ Business Confidence (Oct) | |||
| PPI (YoY) (Q3) | |||||
| PPI (QoQ) (Q3) | |||||
| United States | – | Core PCE Price Index (MoM) (Sep) | |||
| PCE Price index (YoY) (Sep) | |||||
| Canada | – | GDP (MoM) (Aug) | |||
Macro Report
The European Central Bank delivered a second 75- basis points interest rate hike overnight, raising the deposit rate to 1.5% as inflation remains stubbornly high.
In other news, the US GDP report revealed the economy had resumed growth in the third quarter, expanding at an annualized rate of 2.6% compared to the 2.4% previous print. Data is supportive of a relatively strong economy. While on the other hand, the Department of Labor said initial jobless claims increased from 214,000 to 217,000 for the week which ended October 22.
The Aussie dollar has remained firm above the 0.64000 level following Wednesday’s rally on hotter-than-expected headline Aussie CPI. The AUD/USD pair is currently trading at 0.64568.
Looking ahead today, the spotlight is on the Bank of Japan’s interest rate decision which is expected to be kept at the negative 0.100 per cent level. Although Japan’s inflation has not reached the levels seen in Europe and UK, it is nevertheless at an 8-year higher of 3%.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) | |
| AUD/USD | 0.6456 | 0.06 | |
| AUD/JPY | 94.3930 | -0.01 | |
| AUD/CNH | 4.6779 | 0.29 | |
| DXY | 110.5870 | 0.81 | |
| Rates | Yield (%) | Change | |
| US 10 Year | 3.92 | -0.31 | |
| Aus 10 Year | 3.74 | -2.58 | |
| Equities | Level | Change (%) | |
| S&P 500 | 3,807.30 | -0.61 | |
| NASDAQ | 10,792.68 | -1.63 | |
| ASX 200 | 6,845.10 | 0.50 | |
| Commodities | Level | Change (%) | |
| Iron Ore | 93.56 | -1.11 | |
| Gold | 1,665.60 | -0.22 | |
| Brent Crude oil | 96.65 | 1.00 |