Compass Global Markets' Blog

Market Update - 21st July 2016 - Aussie Lower Again On Weaker Commodities & Resurgent Greenback

Posted by Patrick Downes on July 21, 2016 at 9:16 AM

The Aussie dollar is lower again today marking what could be a sixth session of losses for the local currency vs. the Greenback while AUD/GBP has fallen during 9 out of the past 10 days. The recent Aussie weakness probably stems from weakness in commodity prices but also a resurgent U.S dollar and improving sentiment in the U.K. following the immediate and dramatic fallout from Brexit. Also its important to note that over night we saw that far fewer people filed for unemployment benefits in the the last month while the unemployment rate unexpectedly dropped to just 4.9%.

Ahead today is U.K retail sales figures followed an ECB press conference and U.S manufacturing data.

DATA RELEASES TODAY:

GBP – Retail Sales at 6.30pm

EUR - ECB Press Conference at 10.30pm

USD - Philly Fed Manufacturing Index at 10.30pm

AUD EXCHANGE RATES:

AUD/USD – 0.7465

AUD/GBP – 0.5642

AUD/EUR – 0.6772

AUD/NZD – 1.0727

AUD/JPY – 79.964

***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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