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
South Korea – CPI (3.5% YoY Expected)
Singapore – Retail Sales (7.2% YoY expected)
Macro Report
USD remains bid with EURUSD experiencing the brunt of the pain trading to as low as 1.1034. However it was a different story for commodity based currencies, AUDUSD traded to a 4 month high of 0.7347 and NZDUSD also benefited as well. The AUDUSD approached the 200dma, 1 year trendline resistance as well as Fibonacci resistance level, it temporarily pierced through only to retrace as short sellers re-entered the market to trade the technical level. It’s still hovering at the trendline level for now but as market shorts stop out, market positioning may have enough momentum to continue it’s surge.
Rates markets higher(yield) as FED Chair Powell affirmed that rates would be rising in the U.S. to battle high inflation but they are cogniscant of the headwinds in Eastern Europe.
However, the stock market fluctuated between gains and losses eventually settling on losses as rates market pushed higher and an unexpectedly weak US Services print. Brent oil did touch $120 per barrel but has since retraced that move to finish lower on the day the conflict continues.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.7329 | 0.42 |
| AUD/JPY | 84.614 | 0.37 |
| AUD/CNH | 4.6334 | 0.42 |
| DXY | 97.7430 | 0.37 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 1.837 | -0.04 |
| Aus 10 year | 2.18 | 0.01 |
| Equities | Level | Change (%) |
| S&P 500 | 4363 | -0.53 |
| NASDAQ | 14035 | -1.46 |
| ASX 200 | 7151 | 0.49 |
| Commodities | Level | Change (%) |
| Iron Ore | 132.07 | 4.61 |
| Gold | 1937.24 | 0.46 |
| Brent Crude oil | 110.32 | -2.39 |