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Key Data Being Released Today
| Japan | – | Adjusted Current Account | ||
| GDP (QoQ) (Q3) | ||||
| Australia | – | Trade Balance (Oct) | ||
| Trade Balance (USD) (Nov) | ||||
| Eurozone | – | GDP (QoQ) (Q3) | ||
| United States | – | Initial Jobless Claims | ||
Macro Report
Despite soft Aussie GDP and China’s trade data, the AUD/USD pair extended its gains to above the 0.6700 level during New York trading amid US dollar volatility.
The Australian economy, as measured by GDP, indicates clear signs of slowing down. In the three months to September, the economy expanded by 0.6% versus the previous quarter’s print of 0.9% and market consensus of 0.7%. Annualised GDP grew 5.9% in the September quarter, significantly improving from 3.2% in the second quarter but beneath 6.2% projections.
Over in China, the headlines were mixed. The November Trade Balance came in at $69.84 billion, falling from the prior month’s print of $85.15 billion. Exports declined 8.7%, and imports dropped 10.6%. While the nation’s macroeconomic data revived worries of an economic downturn, markets welcomed the news of China’s move away from the zero-covid policy. This sparked risk-on sentiment, weakening the US dollar and boosting the Aussie from yesterday’s low of 0.6668.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) | |
| AUD/USD | 0.6725 | 0.00 | |
| AUD/JPY | 91.7510 | -0.13 | |
| AUD/CNH | 4.6802 | 0.33 | |
| DXY | 105.2060 | -0.35 | |
| Rates | Yield (%) | Change | |
| US 10 Yr | 3.42 | -2.68 | |
| Aus 10 Yr | 3.35 | -1.76 | |
| Equities | Level | Change (%) | |
| S&P 500 | 3,933.92 | -0.19 | |
| NASDAQ | 10,958.55 | -0.51 | |
| ASX 200 | 7,229.40 | -0.85 | |
| Commodities | Level | Change (%) | |
| Iron Ore | 108.49 | 0.75 | |
| Gold | 1,798.60 | 0.91 | |
| Brent Crude oil | 77.55 | 2.27 | |