Compass Global Markets' Blog

Market Update - 1st December 2017 - AUD Retreats On Weaker Commodities Prices

Posted by Patrick Downes on December 1, 2017 at 8:44 AM

Mixed results for equities overnight with U.S equities making solid gains while European equities lost ground amid slower growth. Overall however Europe's prospects have been improving and we've seen that in the AUD/EUR rate which has been in decline since late-February - AUD/EUR this year is down around 1000 points or 10 cents from 0.7320 to 0.6350 today.

Data released tonight includes both UK and US manufacturing PMI with early predictions suggesting pretty flat results. As such it's probably likely to be a quiet day for markets and the Aussie dollar.

AUD EXCHANGE RATES:

AUD/USD – 0.7565

AUD/GBP – 0.5591

AUD/EUR – 0.6352

AUD/NZD – 1.1068

AUD/JPY – 85.164

COMMODITIES: 

Gold – A$1685/oz

Silver –  A$21.74/oz

WTI – US$57.34/barrel

DATA RELEASES TODAY:

GBP - Manufacturing PMI at 8.30pm

USD - ISM Manufacturing PMI at 2.00am

***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: Market, Report

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