Compass Global Markets' Blog

Market Update - 11th August 2017 - Further Risk Aversion Sees U.S Stocks & The Aussie Dollar Lower

Posted by Patrick Downes on August 11, 2017 at 8:34 AM

I talked about 'risk-off' being the flavour of the month and it appears more of the same overnight with market jitters intensifying as a result of a potential conflict between Trump and Kim Jong Un. The Aussie dollar fell along with equities whilst safe havens like Gold and the Japanese Yen bounced higher. U.S equities were the worst performers with the Nasdaq down over 2% while the S&P and Dow fared a little better but still posted considerable losses.

RBA Governor Lowe speaks at 9.30am this morning, while U.S CPI is released this evening at 10.30pm. The market is expecting to see inflation in the vicinity of 0.2% for the latest monthly reading, so anything less than that could see further risk aversion.

As a side note: I'm heading to China for two weeks for business/holiday and hence no morning report from me until I return around the 30th. It is however business as usual and I'll have my phone on me with access to email and calls. However if you'd like to do me a favour please email deal requests to patrick@compassmarkets.com as opposed to calling and I'll get back to you in my usual efficient manner. Thanks in advance and enjoy the last few weeks of Winter.

AUD EXCHANGE RATES:

AUD/USD – 0.7862

AUD/GBP – 0.6059

AUD/EUR – 0.6681

AUD/NZD – 1.0820

AUD/JPY – 85.823

DATA RELEASES TODAY:

AUD - RBA Gov. Lowe Speaks at 9.30am

USD – CPI at 10.30pm

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

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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Topics: Report, Market

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