Compass Global Markets' Blog

Market Update - 28th March 2017 - Aussie's Slide Continues In Absence of Economic Data

Posted by Patrick Downes on March 28, 2017 at 10:05 AM

The Aussie dollars gradual decline continued again overnight with the Aussie lower by around half a percent across the board. The big mover of late has been AUD/GBP with the U.K local currency surging on higher inflation numbers and speculation we could see a move from the Bank of England to stem this booming inflation via higher interest rates. Equities and commodities posted mixed results with Gold the clear winner while more risky assets like iron ore and equities lost ground. 

No data is released today but we will see the latest Consumer Confidence figures out of the U.S tonight. Consumer confidence has been on the rise ever since the GFC and paints a pretty rosy picture of U.S consumers however we are now reaching levels of confidence that we saw just preceding the GFC - what this means for markets is anyones guess, but certainly worth treading with caution particularly if long U.S equities. 

DATA RELEASES TODAY:

USD - CB Consumer Confidence at 1.00am

AUD EXCHANGE RATES:

AUD/USD – 0.7569

AUD/GBP – 0.6015

AUD/EUR – 0.6962

AUD/NZD – 1.0751

AUD/JPY – 83.754

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

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Patrick Downes

Senior Corporate FX Dealer

Compass Markets

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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Topics: Report, Market

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