Compass Global Markets' Blog

Market Update - 10th October 2017 - Aussie Broadly Lower Against The Majors

Posted by Patrick Downes on October 10, 2017 at 9:26 AM

More of the same with respect to the Aussie dollar with the local currency broadly lower against all majors. If you haven't before considered hedging some of your upcoming exposures it could be worthwhile looking at this.

Hedging via a Forward Contract allows importers to cover their future foreign currency exposures at today's rates. Meaning instead of potentially dealing at lower levels in 2-3 months time, you can lock in today's rate for that future date.  Typically only a small deposit is required to do this, which means importers cash flow is kept in tack.

Call me on 0431 278 632 for more details.

AUD EXCHANGE RATES:

AUD/USD – 0.7753

AUD/GBP – 0.5899

AUD/EUR – 0.6602

AUD/NZD – 1.0977

AUD/JPY – 87.354

COMMODITIES: 

Gold – A$1655/oz

Silver –  A$21.86/oz

WTI – US$49.77/barrel

DATA RELEASES TODAY:

AUD - NAB Business Confidence at 11.30am

AUD - RBA Assist Gov Debelle Speaks at 2.20pm

GBP - Manufacturing Production at 7.30pm

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

Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.

 

Open Account 

Patrick's Signature-802090-edited.jpg

Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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Topics: Market, Report

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