Compass Global Markets' Blog

Market Update - 19th September 2016 - AUD Hinges On U.S Fed Interest Rate Decision Thursday

Posted by Patrick Downes on September 19, 2016 at 9:22 AM

No economic data is due out today, however as the week goes its pretty jam packed with news and announcements. Kicking off the announcements tomorrow is monetary policy minutes from the latest RBA meeting in which Glenn Stevens in his last meeting decided to leave rates on hold at 1.5%. While it's typically a lagging indicator looking back in time it still serves as a strong impetus to the Aussies movements as such a more bullish or bearish tone could have impacts.

Looking further out and perhaps the most crucial announcement of the week and this month is the U.S Federal Reserve's latest interest rate decision due Thursday morning. This one has been talked about endlessly over the past month and it still remains to be seen if Janet Yellen and the U.S Fed will pull the trigger on a second rate hike - the first being in December last year. If they do, you'd best be prepared for a sudden and dramatic drop in AUD/USD and the other AUD crosses. If they don't its probably business as usual and the Aussie will keep treading water.

Anyway I'll let you mull on that, if you need a quote or have a friend or colleague who is in the business of importing or exporting, please don't hesitate to put me in contact with them. Certainly always looking for new business and always looking to help individuals and businesses who are getting a poor deal from their bank.

DATA RELEASES TODAY:

No economic data released today

AUD EXCHANGE RATES:

AUD/USD – 0.7497

AUD/GBP – 0.5759

AUD/EUR – 0.6719

AUD/NZD – 1.0307

AUD/JPY – 76.707

***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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