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
European – German Final GDP q/q: Exp – 0.7%
European – French Plim CPI m/m & GDP q/q: Exp: 0.4% & 0.7%
U.S. – Core PCE Price Index m/m : Exp. 0.5%
U.S. – Core Durable Goods Order m/m: Exp. 0.4%
U.S. – Durable Goods Orders m/m: Exp. 1.1%
EUR – ECB President Lagarde Speaks
U.S. – Revised UoM Consumer Sentiment : Exp. 61.7
Macro Report
AUDUSD bounced back after posting a low of 0.70974 throughout the session as U.S. indexes recovered into the close. Stocks recovered from the steep declines seen earlier on Thursday as investors looked past Russia’s invasion of Ukraine. The S&P rose 1.5% to 4288.70 after dropping more than 2.6% intraday. Nasdaq Composite finished up 3.3% to 13473.59, and Dow Jones Industrial Average gained 0.3% to 33223.83. However, Wall Street traders are likely to remain cautious and expect the market to remain very volatile in the next coming days.
Politicians and markets seem resigned to Russia taking control of Kyiv – Ukraine’s capital city. Russian President Putin said Russia does not plan to occupy its Ukraine as military forces entered. Still, the action was necessary after the U.S. and its allies across Russia’s “red line” by expanding the NATO alliance. Biden announced a range of sanctions on Russia but will not exclude Russia from the SWIFT global payment system.
Investors experienced big moves in the APAC’s commodities yesterday. Russia is an essential producer of raw materials, with Europe relying on the country for approximately its oil and more than a third of its gas. Oil and gas price rallied higher yesterday, with spot Brent crude oil has hit $106 for the first time since 2014 but falling back to below $100 after Russian President Biden annoyed his willingness to release further reserves as needed from the SPR. European gas market futures rose by 36%, wheat and corn futures appreciated sharply due to the disruption to Russian and Ukrainian supply. Aluminium jumps to record as Russia attack increased supply risk. The yield on 10-year Treasury yield dropped three basis points to 1.96%.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.7170 | 0.1000 |
| AUD/JPY | 82.7700 | 0.0400 |
| AUD/CNH | 4.5205 | -1.0900 |
| DXY | 97.0540 | 0.9000 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 1.970 | 0.00 |
| Aus 10 year | 2.242 | 0.03 |
| Equities | Level | Change (%) |
| S&P 500 | 4289 | 1 |
| NASDAQ | 13975 | 3 |
| ASX 200 | 6991 | 0 |
| Commodities | Level | Change (%) |
| Iron Ore | 142.66 | 0 |
| Gold | 1907.3 | 0.19 |
| Brent Crude oil | 92.81 | 0 |