Welcome to our daily market update, where we help keep you informed on the latest happenings in the world of FX.
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Key Data Being Released Today
| Japan | – | Industrial Production (MoM) (Oct) | |||
| New Zealand | – | ANZ Business Confidence (Nov) | |||
| Australia | – | Building Approvals (MoM) (Oct) | |||
| Construction Work Done (QoQ) (Q3) | |||||
| CPI (QoQ) | |||||
| Private Sector Credit (MoM) (Oct) | |||||
| China | – | Chinese Composite PMI (Nov) | |||
| Manufacturing PMI (Nov) | |||||
| Non-Manufacturing PMI (Nov) | |||||
| Eurozone | – | Core CPI (YoY) | |||
| CPI (YoY) (Nov) | |||||
Macro Report
The Aussie dollar has fallen below the 0.6700 level on US dollar strength, trading at 0.66826 at the time of writing, down 0.77%. The risk-sensitive Aussie dollar is under pressure as market sentiment remains cautious ahead of US labour market data and Fed Powell’s speech.
US ADP Nonfarm Employment Change will be released overnight and is expected to add 200K for November versus a previous change of 239K in October. This will be followed by Nonfarm Payrolls on Saturday. With bad news being good news in this instance, softer-than-expected employment data will be pleasing for the Fed. Additionally, the AUD pullback comes ahead of the highly anticipated Federal Reserve Chair Powell’s speech, which may give further insight into the roadmap of future rate hikes and the outlook for the US economy.
Scheduled for release today is Australia’s fourth-quarter Consumer Price Index (CPI) data, where a print of 7.4% is expected, up from the prior figure of 7.3% on an annual basis.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.6676 | -0.18 |
| AUD/JPY | 92.6270 | -0.16 |
| AUD/CNH | 4.7725 | -0.92 |
| DXY | 106.8220 | 0.13 |
| Rates | Yield (%) | Change |
| US 10 Yr | 3.74 | -0.01 |
| Aus 10 Yr | 3.62 | 0.39 |
| Equities | Level | Change (%) |
| S&P 500 | 3,957.63 | -0.16 |
| NASDAQ | 10,983.78 | -0.59 |
| ASX 200 | 7,239.10 | -0.20 |
| Commodities | Level | Change (%) |
| Iron Ore | 93.04 | 0.32 |
| Gold | 1,762.20 | -0.09 |
| Brent Crude oil | 83.03 | 0.19 |