Compass Global Markets' Blog

Market Update - 18th July 2017 - AUD Loses Some Ground Despite Iron Ore Prices Pushing Higher Again

Posted by Patrick Downes on July 18, 2017 at 9:27 AM

A short report today as I'm running a little behind schedule. But the key message is AUD has lost some ground since yesterday, which isn't surprising after such a strong run higher. Economic data out of China yesterday was strong with industrial production, retail sales and GDP all appearing to have bottomed out.

Ahead today is monetary policy minutes from the RBA around 11.30am which again should paint a clearer picture on the RBA's next rate move and their thoughts on the economy.

AUD EXCHANGE RATES:

AUD/USD – 0.7791

AUD/GBP – 0.5968

AUD/EUR – 0.6788

AUD/NZD – 1.0712

AUD/JPY – 87.773

DATA RELEASES TODAY:

AUD - Monetary Policy Minutes at 11.30am

GBP - CPI at 6.30pm

***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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