Compass Global Markets' Blog

Market Update - 10th January 2017 - AUD Surges Nearly 2% Vs. GBP As Brexit Comes Into Focus

Posted by Patrick Downes on January 10, 2017 at 8:32 AM

The Aussie dollar has pulled away again overnight, adding as much as 1.8% vs. the Great British Pound and just over 0.8% vs. the USD. The strong gains on AUD/GBP come amid little data announcements but just following a speech from U.K PM Theresa May who outlined the strategy for Britain's exit from the EU. It's almost of though U.K traders had forgotten that they voted to leave the EU in the middle part of last year.

Local retail sale and Chinese inflation figures are due out later today with the local market expecting to see about 0.4% growth in retail sales for the latest period. Chinese inflation is tipped to come in at 2.2% which would be about on trend for the past 2-3 years.

DATA RELEASES TODAY:

AUD – Retail Sales at 11.30am

CNY - CPI at 12.30pm

AUD EXCHANGE RATES:

AUD/USD – 0.7332

AUD/GBP – 0.6024

AUD/EUR – 0.6935

AUD/NZD – 1.0463

AUD/JPY – 85.335

***Above rates are indicative wholesale rates and intended as a guide only***

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Patrick Downes

Senior Corporate FX Dealer

Compass Markets

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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Topics: Market, Report

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