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
- Today
- JPY CPI (Forecast +0.9%)
Macro Report
The AUDUSD traded up to 0.7277 last night in combination with the momentum from stronger Australian employment data. This move was quickly reversed as the USD strengthened across all currencies pairs which provided the AUD with quite a larger overnight trading range.
Treasury yields fell during the session but remains quite elevated after the persistent rally during the week as markets remain concerned about increasing inflation and the potential for the US Federal reserve lifting interest rates more aggressively.
Equity markets continue to sell off in a very weak start to the year in line with the rally in Treasury yields. The trading strategy of ‘buying the dip’ in equities appears to be finding less confidence as investors look for other assets to place their cash.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
Major Global Markets
| Currencies | Currently | |
| AUD/USD | 0.7226 | |
| AUD/JPY | 82.48 | |
| AUD/CNH | 4.5866 | |
| AUD/EUR | 0.6390 | |
| DXY | 95.83 | |
| Bonds | ||
| US 10 Year (%) | 1.8771 | 0.11 |
| Aust 10 year (%) | 1.985 | 0.04 |
| Stocks | ||
| S&P 500 | 4482 | -1.10% |
| NASDAQ | 14846 | -1.34% |
| ASX 200 | 7342 | +0.13% |
| Commodities | ||
| Spot Iron Ore ($US/t) | 129 | 0% |
| Gold futures ($US/oz) | 1838.16 | -0.11% |
| Oil Brent ($US/b) | 87.23 | -1.36% |