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
New Zealand: Unemployment Rate (4Q 3.3% expected)
Macro Report
After an initial sell-off following the RBA’s resistance to embrace the idea that hikes may be required earlier than their own forecasts, AUDUSD has continue to rally back from last weeks slump on the back of USD strength. This morning we will have the RBA Governor Lowe speaking which may add some volatility to market. The market would be looking for any shift in tone and an excuse to keep the hikes priced into the yield curve and add further bets the RBA will have to hike sooner than expected.
However, as equities are trading in a range from negative to positive overnight, the risk tone has improved and USD continues to sell off against its peers. The Russian and Ukrainian conflict hasn’t helped risk sentiment as the Russian president alluded to the conflict being manufactured by the US to hinder Russia’s development whilst their own concerns are being ignored.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.7127 | 0.85 |
| AUD/JPY | 81.753 | 0.46 |
| AUD/CNH | 4.54 | 0.81 |
| DXY | 96.2870 | -0.26 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 1.796 | 0.02 |
| Aus 10 year | 1.96 | 0.04 |
| Equities | Level | Change (%) |
| S&P 500 | 4547 | 0.70 |
| NASDAQ | 15020 | 0.60 |
| ASX 200 | 7006 | 0.49 |
| Commodities | Level | Change (%) |
| Iron Ore | 127.33 | -0.69 |
| Gold | 1801.56 | 0.24 |
| Brent Crude oil | 89.41 | 1.31 |