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
| Eurozone – | ECB Publishes Account of Monetary Policy Meeting | |||
| United States – | GDP (QoQ) (Q2) | |||
| Initial Jobless Claims | ||||
Macro Report
Markets were somewhat mixed overnight, ahead of the Jackson Hole event that will kick-off tonight, with Jerome Powell due to speak later in the week.
US treasuries were weaker on Wednesday, carrying on their recent push higher, with markets now pricing in a peak fed funds rate of 3.8% in March next year, up from the 3.62% several weeks ago. The expectation of cuts that had been priced into next year have also diminished.
Equity markets rose both in Europe and the US.
Ahead today, the ECB releases minutes from its July Policy meeting. In the US, Jobless Claim will be released and monitored for any indications that a trend is continuing higher.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.6905 | -0.01 |
| AUD/JPY | 94.69 | -0.02 |
| AUD/CNH | 4.7467 | -0.05 |
| DXY | 108.61 | -0.01 |
| Rates | Yield (%) | Change |
| US 10 Year | 3.1060 | 0.052 |
| Aus 10 year | 3.686 | 0.001 |
| Equities | Level | Change (%) |
| S&P 500 | 4141 | 0.29 |
| NASDAQ | 12432 | 0.41 |
| ASX 200 | 6998 | 0.52 |
| Commodities | Level | Change (%) |
| Iron Ore | 105.55 | -.02 |
| Gold | 1764.5 | 0.19 |
| Brent Crude oil | 101.81 | 1.59 |