Compass Global Markets' Blog

Market Update - 25th January 2019 - AUD Down Half A Percent Despite Strong Jobs Report

Posted by Patrick Downes on January 25, 2019 at 8:38 AM

Please note that the commentary below is factual information provided to a group of readers as a web blog, and where an opinion is expressed by the author, it is GENERAL ADVICE only.

AUD Moves Lower:

The Aussie dollar is lower by 0.5%  despite another solid jobs report yesterday morning. The official unemployment rate dropped to 5.00% from 5.10% as 21,000 new jobs were created in December. Additionally, the November jobs number was revised higher from around 32,000 to 39,000 new jobs. Overall a very good jobs report but not enough to support the Aussie dollar which seems to be more tied to the ongoing China/U.S trade talks.

Equities & Commodities Perform Better:

Aussie equities finished yesterday's session higher and look set to open higher again this morning following positive sessions in both the U.S and Europe. Commodities prices, in particular iron ore and zinc have continued their good start to the year with Zinc seemingly breaking out of 2018's yearlong downtrend, while Iron Ore prices are near a three month high.

No economic data is due out tonight, however World Economic Forum meetings continue through this evening.

AUD EXCHANGE RATES:

AUD/USD – 0.7064

AUD/GBP – 0.5400

AUD/EUR – 0.6240

AUD/NZD – 1.0444

AUD/JPY – 77.425

USD/BTC – $3,549

OTHER MARKETS:

All Ords (XAO) – 5,930

Gold – A$1,806/oz

Silver –  A$21.60/oz

WTI – US$53.16/barrel

DATA RELEASES TODAY:

ALL - World Economic Forum meetings continue


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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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 DISCLOSURE AND DISCLAIMER - GENERAL ADVICE WARNING
The information provided in this report has been prepared without taking into account your particular objectives, financial situation or needs. You should consider whether our products are appropriate for you and read the FSG and PDS which are available on this website.
This report and must not be copied, either in whole or in part, or distributed to any other person.
All references to prices, amounts and currency are in Australian dollars unless otherwise noted.
This report is provided for Australian residents only and is not intended for use by residents of any other country.

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