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: PPI
New Zealand: Consumer Confidence (-0.6% MoM)
Hong Kong: GDP (1% QoQ expected)
South Korea: Industrial Production (-0.3% MoM expected)
Macro Report
USD strength persisted carried through from Federal Reserve Chairman Powell’s comments yesterday. US rates continued to surge higher whilst the equities markets(NASDAQ down 1.2% and S&P500 down 0.4% ast the time of writing) continued their slide as market is embracing the notion that the Fed may need to hike 50bp in March and the reduction of the Reserve’s balance sheet may be more aggressive than expected. Commodities also took a hit with oil down 0.3% whilst gold dropped 2%.
Despite signs that the Russian and Ukrainian may deescalate in an orderly manner, with Reuters reporting that Russian troops would leave Belarus once the military exercises are finished. This was not enough for a risk rally to return to the market as rhetoric between the US, Russia and NATO continue.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.703 | -1.21 |
| AUD/JPY | 81.088 | -0.60 |
| AUD/CNH | 4.4769 | -0.66 |
| DXY | 97.2370 | 0.78 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 1.801 | -0.06 |
| Aus 10 year | 2 | -0.05 |
| Equities | Level | Change (%) |
| S&P 500 | 4333 | -0.40 |
| NASDAQ | 14003 | -1.20 |
| ASX 200 | 6838 | -1.77 |
| Commodities | Level | Change (%) |
| Iron Ore | 126.64 | 3.07 |
| Gold | 1795.74 | -1.34 |
| Brent Crude oil | 89.79 | -0.31 |