Compass Global Markets' Blog

Market Update - 20th April 2017 - Aussie Remains Under Pressure, AUD/GBP Biggest Mover

Posted by Patrick Downes on April 20, 2017 at 9:13 AM

The Aussie dollars decline continued for a third straight day with the so called Aussie now dipping below 0.7500 vs. the Greenback. AUD/GBP an AUD/EUR have also moved lower as a result of improved inflation expectations and of course the calling of a snap election in the U.K. AUD/GBP remains the biggest mover having lost around 200 points or 3.3% since Tuesday - whilst the drop since 21st March is even more dramatic with AUD/GBP down a whopping 400 points or 6%.

Overnight the 'final' CPI reading for the Euro Area decreased marginally from 2% to 1.5% but remains at a reasonably solid pace given that between Jan 2015 and Jun 2016 growth went backwards for the most part. Ahead this evening is US manufacturing data along with a speech from Bank of England Governor Carney who will no doubt discuss the implication or the upcoming election and what support the Bank of England intends to provide to both the U.K economy and the Pound.

DATA RELEASES TODAY:

EUR - CPI at 7.00pm

AUD EXCHANGE RATES:

AUD/USD – 0.7519

AUD/GBP – 0.5834

AUD/EUR – 0.6994

AUD/NZD – 1.0654

AUD/JPY – 82.460

***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 - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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Topics: Report, Market

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