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
Japan – GDP (5.6% QoQ expected)
China – PPI (8.6% YoY expected)
Macro Report
Another wild session overnight in markets caused by several headlines. One of the major news is that the US and UK will ban Russian oil and gas, with the restrictions to take place immediately for the US and for it to be phased in for the UK. The implications of this meant oil prices continued their ascendency further stoking inflation as this may feed through to the bowser.
Stocks were volatile and traded between gains and losses as the market was digesting this information but have ultimately closed in the red on the day. Volatility continues to edge higher given this trading range from the uncertainty of what the future holds in the markets as market is seemingly see-sawing on news flow that is feeding from Europe.
In a shock announcement, Ukrainian President Zelenksyy announced that they were no longer pushing for NATO membership which was one of the root causes for the war. This was deemed as a risk positive event as the war may end sooner however, the sanctions imposed on Russia and the global economy impact would still be present.
Treasuries sold off during the session and European bonds also sold off quite heavily as there was news the EU was considering issuing a bond to fund energy and defence spending.
AUD/USD Daily Chart
DXY (USD INDEX) Daily
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.7272 | -0.63 |
| AUD/JPY | 84.093 | -0.34 |
| AUD/CNH | 4.5998 | -0.61 |
| DXY | 99.0980 | -0.19 |
| Rates | Yield (%) | Change (%) |
| US 10 Year | 1.840 | 0.07 |
| Aus 10 year | 2.315 | 0.08 |
| Equities | Level | Change (%) |
| S&P 500 | 4171 | -0.72 |
| NASDAQ | 13268 | -0.39 |
| ASX 200 | 6980 | -0.83 |
| Commodities | Level | Change (%) |
| Iron Ore | 139.97 | -0.06 |
| Gold | 2053.2 | 2.76 |
| Brent Crude oil | 128.61 | 4.40 |