Compass Global Markets' Blog

Market Update - 18th October 2016 - Aussie Edges Higher Overnight, RBA Minutes Due @ 11.30am

Posted by Patrick Downes on October 18, 2016 at 9:49 AM

Monetary policy minutes from the latest RBA meeting will be released at 11.30am this morning, while in the U.S the latest CPI and manufacturing sales figures will be released 11.30pm this evening. It makes for a decidedly more eventful session of trade following a quiet day yesterday in which AUD/USD traded in a tight range between around 0.7580-0.7630 on the wholesale market. AUD/GBP remains the bolter with the currency pair now trading above 0.6250.

U.S and European equities retreated during overnight trade with U.S markets down around 0.3% while in Europe the U.K FTSE gave up gains to the tune of about 1%. It still puts U.K stocks ahead about 3.5% this month and 9% this year. The local ASX200 on the other hand is up a measly 2.3% in 2016. Commodities prices have remained mostly stable with iron ore still hovering just under US$60 a tonne.

DATA RELEASES TODAY:

AUD – Monetary Policy Minutes at 11.30am

GBP – CPI at 7.30pm

USD – CPI at 11.30pm

AUD EXCHANGE RATES:

AUD/USD – 0.7611

AUD/GBP – 0.6241

AUD/EUR – 0.6912

AUD/NZD – 1.0712

AUD/JPY – 79.03

***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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