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
New Zealand – Credit Card Spending
South Korea – Consumer Confidence
Hong Kong – CPI Composite (1.6% expected)
Macro Report
Markets remained somewhat unsettled overnight with geo-political risk remaining elevated, also lacking was a genuine lead from US markets which were closed for Presidents Day.
A driver in risk-off sentient, driving both European and US equity futures lower, and oil higher, was Russian President Vladimir Putin recognition of two breakaway regions in eastern Ukraine as independent entities on Monday.
News reports state that President Biden plans to impose new sanctions on trade and financing in the two pro-Moscow territories.
Earlier in the day, during Asian hours, The French President said the leaders of Russia and the US had agreed to meet but the Kremlin said there were no immediate plans for a meeting.
Major currencies were mixed against the US dollar in European and US trade. The Aussie dollar broadly held between US71.85 cents and US72.20 cents and was near US71.95 cents at the North American close. The Euro fell from highs near US$1.1382 to lows near US$1.1305 and was near US$1.1315 at the North American close.
Global oil prices were firmer on Monday in response to the ongoing stand-off between Ukraine and Russia. Reports suggest the US and Iran are close to reviving a 2015 nuclear deal that could see Iran lift oil exports. The Brent crude price rose by US$1.85 or 2.0% to US$95.39 a barrel.
In European data the Markit Eurozone composite PMI rose from 52.3 to 55.8 in February (survey: 52.9). The Markit/CIPS UK composite PMI rose from 54.2 to 60.2 in February (survey: 55.3).
Ahead, In Australia, the monthly household spending indicator is released with weekly consumer confidence. In the US, consumer confidence is released with Markit purchasing managers indexes, house prices and the Richmond Federal Reserve survey.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.7189 | -0.01 |
| AUD/JPY | 82.482 | -0.01 |
| AUD/CNH | 4.5475 | -0.01 |
| DXY | 96.1220 | 0.08 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 1.929 | 0.00 |
| Aus 10 year | 2.17 | -0.06 |
| Equities | Level | Change (%) |
| S&P 500 | 4349 | -0.72 |
| NASDAQ | 14010 | -1.14 |
| ASX 200 | 7234 | 0.16 |
| Commodities | Level | Change (%) |
| Iron Ore | 120.04 | 0.82 |
| Gold | 1906.28 | -0.00 |
| Brent Crude oil | 97.01 | 3.71 |