Compass Global Markets' Blog

Market Update - 15th January 2019 - AUD Hits Turbulence As Global Growth Concerns Re-Emerge

Posted by Patrick Downes on January 15, 2019 at 9:06 AM

Please note that the commentary below is factual information provided to a group of readers as a web blog, and where an opinion is expressed by the author, it is GENERAL ADVICE only.

What Happened Overnight?

The AUD has pared some of it's 2019 gains overnight as U.S and European stocks turned negative and global growth concerns once again start to agitate investors. The NASDAQ finished lower by around 1% while in Europe the FTSE was the worst performer down by 0.91%. Local inflation data released by the Melbourne Institute yesterday surprised to the upside coming in at 0.4%, which was the highest reading since April of last year and comes on the back of pretty weak inflation data throughout most of 2018. The data however had little impact on the AUD which really was traded more on global macro trends rather than the local economic data.

AUD Still Near One Months Highs:

Overall the AUD was off around 0.3% across the board, but remains near one month highs vs. the US Dollar and Euro. The Aussie Dollar could hit a bit more turbulence tonight with U.S producer prices data due out just after midnight.

AUD EXCHANGE RATES:

AUD/USD – 0.7167

AUD/GBP – 0.5561

AUD/EUR – 0.6245

AUD/NZD – 1.0520

AUD/JPY – 77.568

USD/BTC – $3,639

OTHER MARKETS:

All Ords (XAO) – 5,833

Gold – A$1,795/oz

Silver –  A$21.75/oz

WTI – US$50.93/barrel

DATA RELEASES TODAY:

USD - PPI m/m at 12.30am

EUR - ECB President Draghi Speaks at 2.00am


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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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This report and must not be copied, either in whole or in part, or distributed to any other person.
All references to prices, amounts and currency are in Australian dollars unless otherwise noted.
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