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
Macro Report
USDJPY was the major mover overnight as diverging monetary policy between the US and Japan continue to drive the currency pair higher overnight. The mood was very much Risk on overnight as rates surged higher across the board after the FED continued to set a hawkish tone.
Despite the higher rates, the equities market was enjoying the euphoria as well seeing a strong rally across the board except for the China Index which is suffering from economic slowdowns due to the lockdowns due to lockdowns.
Commodities remain stable although oil took at 5% hit despite Russia’s attempted advance into the Donbas region in the Ukraine potentially causing more market volatility. The IMF also revised 2022 global growth forecasts 0.80% lower to 3.6% with great concern over persistent inflation risks. Again, none of this negativity was enough to dampen the markets spirits.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
| Currencies | Level | Change (%) |
| AUD/USD | 0.7389 | 0.19 |
| AUD/JPY | 95.531 | 0.49 |
| AUD/CNH | 4.7421 | 0.18 |
| DXY | 100.9610 | 0.18 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 2.936 | 0.08 |
| Aus 10 year | 3.155 | 0.04 |
| Equities | Level | Change (%) |
| S&P 500 | 4462 | 1.61 |
| NASDAQ | 14210 | 2.15 |
| ASX 200 | 7565 | 0.56 |
| Commodities | Level | Change (%) |
| Iron Ore | 143.23 | 1.14 |
| Gold | 1949.3 | -0.06 |
| Brent Crude oil | 107.25 | -5.22 |