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.
If you have any questions or would like anything further explained, please don’t hesitate to reach out to your account manager or email info@cafx.com
Key Data Being Released Today
| New Zealand – | ANZ Business Confidence (Sep) |
| United States – | GDP (QoQ) (Q2) |
| Initial Jobless Claims |
Macro Report
The US dollar’s rather stretched recent rally changed course overnight. The Aussie dollar was one of the greatest beneficiaries from the pull back, firming from lows near US63.63 cents to highs near US65.30 cents and was near US65.20 cents at the US close.
The UK government seemed to take center stage however, having delayed the start of their quantitative tightening and instead commencing quantitative easing. As a result, UK long end gilts fell from an earlier high of over 5% to a low of 3.92%.
US treasuries also rebounded sharply on Wednesday, with the US 10year falling around 23 points, its largest fall since 2009, having briefly hitting a near 14-year high.
Coming up today, In Australia, the ABS will make the release of a new CPI indicator for Australia covering the months of July and August.
German inflation numbers will be closely watched following that, expected to have raised by 9.4% YoY in September. US weekly jobless claims will be released overnight with keen attention on its recent trend, expectation are for a number 215k from 213k the previous release.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.6523 | 1.38 |
| AUD/JPY | 93.99 | 0.90 |
| AUD/CNH | 4.6695 | 1.08 |
| DXY | 112.69 | -1.24 |
| Rates | Yield (%) | Change |
| US 10 Year | 3.733 | -0.259 |
| Aus 10 year | 3.35 | -0.214 |
| Equities | Level | Change (%) |
| S&P 500 | 3719 | 1.97 |
| NASDAQ | 11052 | 2.05 |
| ASX 200 | 6462 | -0.53 |
| Commodities | Level | Change (%) |
| Iron Ore | 98.52 | -0.19 |
| Gold | 1668.3 | 1.97 |
| Brent Crude oil | 89.2 | 3.54 |