Compass Global Markets' Blog

Market Update – 14th October 2016 – All Eyes On US Economic Data Tonight As AUD/USD Again Tests 0.7500

Posted by Patrick Downes on October 14, 2016 at 9:36 AM

U.S economic data comes in thick and fast tonight, with the latest retail sales, producer prices (PPI) and consumer sentiment figures capping off what has been a very quiet week. The trifecta of announcements will be watched closely by the U.S Federal Reserve and market participants alike given all the chatter surrounding further Fed interest rate hikes perhaps as early as next month. The Fed will be hoping to see a snap to a two month string of negative or flat retail sales and producer prices, while they’ll also be hoping to see continued growth in consumer sentiment. Should we see all three improve you’d have to expect AUD/USD to again test 0.7500 or lower – a level at which it has been unable to break below since a brief soire in the 0.74’s during the middle part of last month.

Other than that, it looks like Aussie equity markets are set to snap a two day losing streak with ASX 200 Futures pointing towards a 0.2% gain on the open.

DATA RELEASES TODAY:

USD – Retail Sales and Producer Prices (PPI) at 11.30pm

USD – Prelim UoM Consumer Sentiment at 1.00am

AUD EXCHANGE RATES:

AUD/USD – 0.7542

AUD/GBP – 0.6157

AUD/EUR – 0.6823

AUD/NZD – 1.0641

AUD/JPY – 78.27

***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 - +61 03 9099 8459

  Email Patrick: patrick@compassmarkets.com

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