Compass Global Markets' Blog

Market Update - 23rd May 2017 - Aussie Up Marginally On Higher Commodity Prices

Posted by Patrick Downes on May 23, 2017 at 8:36 AM

The Aussie dollar is marginally higher again this morning thanks to another positive session in commodities prices which saw iron ore, copper and oil all higher. U.S stock markets also pushed higher with the NASDAQ up around 0.8% but the gains ended their as European stocks stumbled following the latest Eurogroup meetings. The meetings held all night failed to find consensus on a range of issues ranging from how to manage euro debt and also how to deal with the likes of Greece which remains a basket case of an economy after many years of austerity.

Ahead this evening is German IFO Business climate data followed by Inflation Report Hearings out of the U.K.

DATA RELEASES TODAY:

EUR – German IFO Business Climate at 6.00pm

GBP -  Inflation Report Hearings at 7.00pm

AUD EXCHANGE RATES:

AUD/USD – 0.7442

AUD/GBP – 0.5719

AUD/EUR – 0.6619

AUD/NZD – 1.0650

AUD/JPY – 82.891

***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: Report, Market

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