Equities dipped overnight, but not before another solid day locally for both equities and the Aussie dollar which saw AUD/USD touch briefly above 0.7500 on the wholesale market. AUD/USD has since come off those highs but still presents reasonably attractive levels to buy USD, EUR and GBP. No data was released overnight however a speech from Fed Chair Janet Yellen this morning followed by a raft of U.S economic data later tonight certainly sets us up for a more volatile evening of trade to cap off a quite week.
In other news, U.K Prime Minister Theresa May is due to speak next Tuesday and is likely to spell out in detail the steps for Brexit to occur over the next year or so - not surprisingly this will probably be marked by quite a bit of movement on markets and more specifically on U.K equities and AUD/GBP.
For those of you starting back this week, I hope you had a pleasant start to the New working Year and again wish you all the best in 2017.
DATA RELEASES TODAY:
USD - Fed Chair Yellen Speaks at 11.00am
CNY - Trade Balance
USD - Retail Sale and PPI at 12.30am
USD - Prelim UoM Consumer Sentiment at 2.00am
AUD EXCHANGE RATES:
AUD/USD – 0.7461
AUD/GBP – 0.6132
AUD/EUR – 0.7027
AUD/NZD – 1.0510
AUD/JPY – 85.790
***Above rates are indicative wholesale rates and intended as a guide only***
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Senior Corporate FX Dealer
Phone Patrick - 0431 278 632