Compass Global Markets' Blog

Market Update - 29th September 2017 - AUD Continues To Drift Lower Against Most Majors

Posted by Patrick Downes on September 29, 2017 at 9:17 AM

The Aussie dollar has continued to slowly grind lower over the past number of days in part because of lower commodities prices but also due to a resurgence in the EURO and GBP and a flight to safe haven currencies including the JPY and USD as a result of North Korea tensions. Overall however the Aussie remains at elevated levels vs. most currencies when you look at a longer time frame.

Only a little economic data is out today in private sector credit at 11.30am, followed by some Chinese manufacturing data. As is always the case Chinese economic data can have an impact on the Aussie, so I'd suggest booking payments before 11.30am if you prefer to reduce the risk of an adverse movement in the AUD.

For those with a long weekend, please enjoy yourself. Melbourne's long weekend started yesterday afternoon. However, I'm still on call should you need to book a payment.

AUD EXCHANGE RATES:

AUD/USD – 0.7849

AUD/GBP – 0.5841

AUD/EUR – 0.6661

AUD/NZD – 1.0851

AUD/JPY – 88.212

COMMODITIES: 

Gold – A$1639/oz

Silver –  A$21.47/oz

WTI – US$51.65/barrel

DATA RELEASES TODAY:

AUD - Private Sector Credit at 11.30am

CNY - Caixin Manufcturing PMI at 11.45am

***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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