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
| Japan – | GDP (QoQ) (Q2) | |||
| Australia – | Trade Balance (Jul) | |||
| Eurozone – | ECB Interest Rate Decision | |||
| United States – | Initial Jobless Claims | |||
Macro Report
The US dollars recent assent, which was continuing during Asian trading hours yesterday, took a breather overnight. Helping in the shift in sentiment was a move lower in global yields, appearing to be initiated by UK gilts.
Equity markets followed the lead and ended their recent poor running with somewhat of a bear-market rally.
Currencies were mostly firmer against the greenback, the Aussie dollar lifted from lows near US66.98 cents to highs near US67.68 cents and was near US67.65 cents at the US close. The Euro rose from lows near US$0.9875 to session highs near US$1.0010 at the US close.
Ahead today, RBA Governor Lowe will give a talk, the language closely followed for any clues on a slowing trajectory of future rate hikes. Aussie trade balance and Japan GDP will also feature in the Asian hours.
In Europe, markets will await the ECB rate decision, where they are anticipated to hike rates by 50bps. Rounding out the evening will be the US, where both Jobless Claims and a talk by Jerome Powell will be the key events.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.6764 | -0.07 |
| AUD/JPY | 97.48 | 0.22 |
| AUD/CNH | 4.7067 | -0.02 |
| DXY | 109.53 | -0.65% |
| Rates | Yield (%) | Change |
| US 10 Year | 3.2650 | -0.075 |
| Aus 10 year | 3.646 | -0.002 |
| Equities | Level | Change (%) |
| S&P 500 | 3980 | 1.83 |
| NASDAQ | 11792 | 2.14 |
| ASX 200 | 6729 | -1.42 |
| Commodities | Level | Change (%) |
| Iron Ore | 96.8 | -0.3 |
| Gold | 1729.2 | 1.69 |
| Brent Crude oil | 87.71 | -5.52 |