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 – Retails Sales (+0.3% MoM expected)
New Zealand – Business Confidence
Japan – Retail Sales (+1.4% YoY expected)
Macro Report
Risk sentiment staged an enormous recovery in the Friday session despite the Russian and Ukrainian war intensifying. Friday night trading saw AUDUSD trade up to 0.7230 as any notion of month end USD buying evaporated. Equities staged a solid bounce with the NASDAQ up 1.5% despite no news or change in risk sentiment whilst oil came off the highs to trade sub $100 per barrel again.
However, over the weekend, additional sanctions against Russia were announced in a bid to throttle their attack. Furthermore, Germany has also supported Ukraine by sending weapons to help defend. All this has resulted in currencies trading risk off to start the date with AUD rates down 7bp in the front end of the curve, putting an increased dent on the market probability on RBA hiking rates sooner.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.717 | -0.78 |
| AUD/JPY | 82.556 | -1.19 |
| AUD/CNH | 4.5352 | -0.62 |
| DXY | 96.6150 | -0.54 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 1.962 | -0.00 |
| Aus 10 year | 2.19 | -0.05 |
| Equities | Level | Change (%) |
| S&P 500 | 4385 | 2.24 |
| NASDAQ | 14189 | 1.53 |
| ASX 200 | 6998 | 0.10 |
| Commodities | Level | Change (%) |
| Iron Ore | 123.65 | -0.85 |
| Gold | 1889.34 | -0.76 |
| Brent Crude oil | 97.93 | -1.16 |