While we took a moment yesterday to remember those lost in war the rest of the world mostly carried on with business, however on the most part there wasn't really a great deal of economic data released yesterday with only U.S CB consumer confidence which came in around midnight last night. The data which is released monthly and is a survey of households and their relative economic situation came in marginally below last months reading which peaked at 125.6 (the highest level since the heady days of the tech boom) - read into that what you like.
The Aussie dollar has continued its slow and steady decline over the past 48 hours and is marginally lower across the board. AUD/GBP is probably the worst performer again down around 1% since the start of trade yesterday morning.
Aussie CPI is released at 11.30am and is expected to show around 0.6% growth for the quarter which would be around on trend for the past few years. Obviously CPI plays a huge factor in determing the Aussies direction so markets will be watching closely for any signs of increased inflation or deflation risk.
DATA RELEASES TODAY:
AUD - CPI at 11.30am
AUD EXCHANGE RATES:
AUD/USD – 0.7487
AUD/GBP – 0.5821
AUD/EUR – 0.6846
AUD/NZD – 1.0793
AUD/JPY – 83.227
***Above rates are indicative wholesale rates and intended as a guide only***
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Senior Corporate FX Dealer
Phone Patrick - 0431 278 632