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
| United States – | Core Durable Goods Orders (MoM) (Jul) | ||||
| Canada – | Wholesale Sales (MoM) | ||||
Macro Report
Stocks retreated following downbeat economic data, while markets await cues on the Federal Reserve’s monetary policy path from the Jackson Hole Symposium later this week. With trading volume among the lowest in 2022, the Dow fell 154.02 points, or 0.47%, to 32,909.59. The S&P 500 dropped another 0.22% to 4,128.73, and the Nasdaq Composite tumbled 0.27 points to 12,381.30.
The risk-sensitive Aussie dollar is somewhat holding up due to disappointing US data, sitting at 0.6919 level against the USD at the time of writing. This early morning’s US New Home Sales data revealed a sharp fall in July, with new single‐family homes declining by 12.6% to a seasonally adjusted annualised number of 511,000 sold homes. Lower-than-expected readings continued to push the US dollar Index (DXY) lower towards 108.00. However, recent softening data from China, provoking escalated worries about the Chinese economy and broader global downtrend, will likely continue to weigh on the Aussie dollar given the country’s high exposure to trade.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.6917 | -0.20 |
| AUD/JPY | 94.6070 | -0.17 |
| AUD/CNH | 4.7374 | -0.14 |
| DXY | 108.6240 | -0.39 |
| Rates | Yield (%) | Change |
| US 10 Year | 3.05 | 0.065 |
| Aus 10 Year | 3.64 | 0.061 |
| Equities | Level | Change (%) |
| S&P 500 | 4128.73 | -0.22 |
| NASDAQ | 12381.30 | 0.00 |
| ASX 200 | 6961.81 | -1.21 |
| Commodities | Level | Change (%) |
| Iron Ore | 105.52 | 0.96 |
| Gold | 1760.20 | -0.06 |
| Brent Crude oil | 100.22 | 3.88 |