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
Australia Retail Sales (MoM) (Mar)
Eurozone CPI (YoY) (Mar)
United States Initial Jobless Claims
Macro Report
The USD gave back some of its recent gains overnight, the DXY sliding 0.6% to hover around the 100.3 level. The Aussie dollar rose from lows near US74.10 cents to highs near US74.57 cents and was near US74.48 in early Asian hours.
US Treasuries also yields also declined after hitting three-year highs. Ten-year yields retreated 8 points to near 2.84%.
The US Federal Reserve Beige Book reported that The U.S. economy grew at a moderate pace since mid-February, but “inflationary pressures remained strong since the last report”.
Attention was cast to Fed President Mary Daly, stating that she would support getting the Fed’s overnight interest rate up to about 2.5% by the end of the year. Markets will now look to comments tonight from Jerome Powell who is due to speak, to gauge how aggressively the Fed is expected to move to combat inflation.
Ahead, in Australia, detailed labour force figures are issued. In the US, the leading index, Philadelphia Federal Reserve survey and weekly jobless claims data are issued.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
| Currencies | Level | Change (%) |
| AUD/USD | 0.7445 | -0.07 |
| AUD/JPY | 95.231 | -0.05 |
| AUD/CNH | 4.7998 | -0.04 |
| DXY | 100.9610 | -0.57 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 2.936 | 0.08 |
| Aus 10 year | 3.155 | 0.04 |
| Equities | Level | Change (%) |
| S&P 500 | 4459 | -0.06 |
| NASDAQ | 13999 | -1.49 |
| ASX 200 | 7569 | 0.05 |
| Commodities | Level | Change (%) |
| Iron Ore | 143.23 | 1.14 |
| Gold | 1955.66 | -0.06 |
| Brent Crude oil | 106.8 | -5.22 |