Compass Global Markets' Blog

Market Update - 19th June 2017 - Aussie Surges Past 0.7600 But Will It Hold?

Posted by Patrick Downes on June 19, 2017 at 9:24 AM

A raft of poor economic data out of the U.S last week has helped the so called Aussie reach its highest levels in just over two months vs. the Greenback, closing just above 0.7600. The last time AUD/USD was around these levels was back on April 18th where it briefly topped 0.7600 before capitulating back to the low 0.7300's. Where AUD/USD heads from here is anyone's guess, particularly given the very uncertain and sea sawing economic data recently out of both Australia and the U.S.

The Aussie dollar has also performed quite well against the EURO and GBP of late thanks to being I guess the cleanest dirty shirt in the laundry. The U.K and Europe with recent elections and economic uncertainty along with heightened terrorism risks have all benefited the Aussie dollar crosses.

No really important economic data or announcements are happening today or this evening, so we should therefore see the Aussie maintain current levels.

DATA RELEASES TODAY:

None

AUD EXCHANGE RATES:

AUD/USD – 0.7603

AUD/GBP – 0.5935

AUD/EUR – 0.6802

AUD/NZD – 1.0502

AUD/JPY – 84.265

***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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