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 – Trade Balance (-¥150.0t expected)
South Korea – Unemployment rate (3.6% expected)
U.S. – FOMC (0.25% range increase)
Macro Report
Leaders from Czech Republic, Poland and Slovenia travelled to Kyiv to speak to the Ukrainian President about the ongoing war which is showing no signs off easing as both sides continue to blame each other for being uncooperative in peace negotiations. U.S. President Biden is also reported to travel to Europe to take part in NATO and EU summit to discuss more on the war. The western allies, for now, are still very hesitant to provoke or engage Russia in any physical conflict as a requests from President Zelenskiy to support a no fly zone over the Ukraine has been ignored.
In other news, it was reported that Saudi Arabia was in talks with China about pricing oil off the Yuan which saw the Yuan rally overnight. Furthermore, oil prices continue to correct with oil trading below $100/barrel once again which would be a welcomed sign to policy makers concerned with inflation. Commodities were all lower in general but the stock market once again found a base and rallied overnight as ‘buy the dip’ participants came back into the fold.
Rates continue their move higher albeit at a steadier pace as there is concern about sustainable growth with current inflation levels. This makes the decision for policy makers that much more difficult to strike a balance between managing inflation whilst promoting growth (particularly wage growth) in the economy.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.7195 | -0.01 |
| AUD/JPY | 85.122 | 0.00 |
| AUD/CNH | 4.5912 | -0.02 |
| DXY | 99.0640 | 0.07 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 2.144 | 0.01 |
| Aus 10 year | 2.57 | -0.01 |
| Equities | Level | Change (%) |
| S&P 500 | 4262 | 2.14 |
| NASDAQ | 13459 | 3.16 |
| ASX 200 | 7097 | -0.73 |
| Commodities | Level | Change (%) |
| Iron Ore | 140.3 | -0.86 |
| Gold | 1918.01 | 0.00 |
| Brent Crude oil | 98.69 | -7.68 |