Compass Global Markets' Blog

Market Update - 20th July 2016 - Aussie and Iron Ore Continues To Drift Off Highs

Posted by Patrick Downes on July 20, 2016 at 9:23 AM

Equity markets the Aussie dollar and commodities gave up further gains overnight with most asset classes ending the session in the red. Iron ore fell a further 1-2% while the worst performing indices were the French CAC and German DAX down 0.6% and 0.8% respectively.

The Aussie dollar lost around a cent vs. the Greenback and Euro over the past 24 hours, while AUD/GBP continued to ease off highs seen last week when we touched on 0.5867. AUD/GBP may be headed still lower following the recent decision from the Bank Of England not to support their currency with interest rate cuts, but this will all play out over the next few weeks starting tonight with U.K unemployment figures and average earnings around 6.30pm

DATA RELEASES TODAY:

GBP - Unemployment Rate and Average Earnings Index at 6.30pm

AUD EXCHANGE RATES:

AUD/USD – 0.7516

AUD/GBP – 0.5731

AUD/EUR – 0.6820

AUD/NZD – 1.0653

AUD/JPY – 79.830

***Above rates are indiciative wholesale rates and intended as a quide only***

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Patrick Downes

Senior Corporate FX Dealer

 Compass Markets

Contact Patrick for a quote on 0431 278 632

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