CAFX Market Update 29/09/2022

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



Leave a Comment

Your email address will not be published. Required fields are marked *