Compass Global Markets' Blog

Market Update - 20th March 2017 - Aussie Lower On Profit Taking, Japan Celebrates 'Vernal Equinox Day'

Posted by Patrick Downes on March 20, 2017 at 9:01 AM

Equities markets finished the week mixed with our local market and European markets up around one quarter of one percent while U.S markets finished flat or marginally lower. The Aussie dollar is however generally lower this morning in what could be seen as a bit of profit taking after a strong move from the mid 75's back to 77's late last week.

We start the week with no economic data releases but it is a holiday in Japan today, so no Yen payments will go out. The Japanese today celebrate Shunbun no Hi, or 'Vernal Equinox Day' and marks the day that the sun crosses the equator making both night and day equal in length. According to Web-Japan.org "it's a day to commune with nature and to show our affection for all living things." Just one of the reasons why I love Japan and why we would should if possible try to be more like Japan.

DATA RELEASES TODAY:

JPY - Bank Holiday - No JPY payments will go out today.

AUD EXCHANGE RATES:

AUD/USD – 0.7653

AUD/GBP – 0.6168

AUD/EUR – 0.7124

AUD/NZD – 1.0928

AUD/JPY – 86.24

***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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