Compass Global Markets' Blog

Market Update - 20th November 2017 - Commodities Tread Water, While Equities & The AUD Fall

Posted by Patrick Downes on November 20, 2017 at 8:32 AM

The Aussie dollar declined again over the weekend pushing the Aussie closer to 0.63 vs. the EURO and 0.56 vs. the Pound and further falls may be forthcoming over the next year particularity against the Greenback with a recent report out of Goldman Sachs suggesting the U.S Federal Reserve may raise rates as many as four times in 2018. Should they do this we will likely be in the unusual situation of the U.S having higher interest rates than here in Australia, and I don't recall that ever happening in my lifetime, however if someone can recall a period where this did occur I'd certainly appreciate the info.

In addition to the declines in the Aussie dollar over the weekend, we also saw falls in U.S and European equities while commodities tread water in the absence of economic data out of China.

No economic data out today, however we should see another speech from ECB President Mario Draghi which could have an impact on AUD/EUR which has been in decline for quite some time.

AUD EXCHANGE RATES:

AUD/USD – 0.7563

AUD/GBP – 0.5721

AUD/EUR – 0.6414

AUD/NZD – 1.1093

AUD/JPY – 84.763

COMMODITIES: 

Gold – A$1710/oz

Silver –  A$22.87/oz

WTI – US$56.78/barrel

DATA RELEASES TODAY:

No data

***Above rates are indicative wholesale rates and intended as a guide only***

Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.

 

Open Account 

Patrick's Signature-802090-edited.jpg

Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

CompassFB-1

 

Topics: Market, Report

Compass Global Markets' Blog

Subscribe to Email Updates

Recent Posts