Compass Global Markets' Blog

Market Update - 19th May 2017 - Markets Settle While Local Employment Numbers Provide Mixed Signals

Posted by Patrick Downes on May 19, 2017 at 9:01 AM

Morning all, I'll be out of the office this afternoon as I have a good friend's wedding however thanks to the wonders of our cloud based payments platform I'm still able to book all trades as requested, simply email me with your trade requests and I'll forward confirmations as per usual.

The Aussie dollar has caught up to the losses across equity markets two night's ago eventually falling around 20-30 points depending on which currency pair you're watching. Additionally jobs numbers released yesterday created some confusion with the official unemployment rate dropping to 5.7% as 37K new jobs were created. But diving a little deeper into the numbers we see that the vast majority of these new jobs created were part-time with of course far lower hours than a full time job. This is typically perceived poorly by markets and has become somewhat of a trend in recent months.

Very little economic data is out today and markets look like they have settled down since Wednesday evening so expect perhaps more of the same throughout today and tonight. Have a good weekend.

DATA RELEASES TODAY:

None

AUD EXCHANGE RATES:

AUD/USD – 0.7383

AUD/GBP – 0.5696

AUD/EUR – 0.6618

AUD/NZD – 1.0700

AUD/JPY – 82.221

***Above rates are indicative wholesale rates and intended as a guide only***

Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.

 

Open Account 

Patrick's Signature-802090-edited.jpg

Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

CompassFB-1

 

Topics: Report, Market

Compass Global Markets' Blog

Subscribe to Email Updates

Recent Posts