Compass Global Markets' Blog

Market Update - 20th September 2016 - Aussie Edges Higher On Positive Global Sentiment

Posted by Patrick Downes on September 20, 2016 at 8:30 AM

The so called Aussie has pushed marginally higher against all the crosses overnight thanks to a little uptick in positive global sentiment which has seen equities and commodities including iron ore edge higher over the past 24 hours. Monetary policy minutes from the latest RBA meeting is due at 11.30am and will as per usual be watched closely for an indication on where the economy and rates are headed.

Building permits out of the U.S are due later this evening and while it's not typically associated with big moves in AUD/USD it'll hold more clout given the upcoming U.S Fed Interest Rate decision due Thursday morning. Economists are expecting U.S building permits to edge higher with 1.17M new permits annualised, which would equate to 6 revisions higher in the past 6 months - not bad growth at all considering we're about 10 years since the GFC.

DATA RELEASES TODAY:

AUD - Monetary Policy Minutes at 11.30am

USD - Building Permits at 10.30pm

NZD - GDT Price Index early AM tomorrow

AUD EXCHANGE RATES:

AUD/USD – 0.7537

AUD/GBP – 0.5781

AUD/EUR – 0.6744

AUD/NZD – 1.0323

AUD/JPY – 76.766

***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 - +61 03 9099 8459

  Email Patrick: patrick@compassmarkets.com

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