Compass Global Markets' Blog

Market Update - 21st June 2017 - Aussie Drifts Lower On Weaker Metals Prices And Weaker Investor Sentiment

Posted by Patrick Downes on June 21, 2017 at 8:32 AM

The Aussie dollar has corrected somewhat overnight thanks to another dip in iron ore prices and generally weaker investor sentiment across the board. AUD/USD is back below 0.7600 as I suspected could be the case (on Monday) given considerable resistance around the 0.7600 figure.

Little economic data was released yesterday and very little is due out today again; as such you'd have to suspect that the Aussie will either bubble away at current levels or drift lower still. Either/or it could be a good time to look at hedging future USD exposures particularly given how poorly the Aussie has performed when at or around the 0.7600 figure. Call me to discuss options to take advantage of the Aussie at current levels - 0431 278 632.

DATA RELEASES TODAY:

NZD - RBNZ Rate Statement at 7.00am (tomorrow morning)

AUD EXCHANGE RATES:

AUD/USD – 0.7547

AUD/GBP – 0.5972

AUD/EUR – 0.6775

AUD/NZD – 1.0431

AUD/JPY – 84.154

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

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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Topics: Market, Report

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