Compass Global Markets' Blog

Market Update - 5th October 2017 - AUD Makes Gains Across The Board Thanks To Bump In Commodities Prices

Posted by Patrick Downes on October 5, 2017 at 9:28 AM

Spanish equities got pummelled overnight as the fallout from a Catalonia referendum vote took it's toll on Spanish financial markets. Equities around the rest of Europe bar Germany also performed poorly, while U.S equities finished the session flat as the country comes to terms with its worst mass shooting in modern times.

The Aussie dollar made gains almost across the board thanks to the continued rally in commodities prices. Iron ore is perhaps the only one not moving as traders shift their focus to other base metals such as Zinc, Copper and Nickel.

Ahead today is retail sales and trade balance figures kicking off at 11.30am. A slight bump in retail sales is expected while the trade balance figure is expected to double to 0.88B as a result of a pick up in exports.

AUD EXCHANGE RATES:

AUD/USD – 0.7864

AUD/GBP – 0.5934

AUD/EUR – 0.6683

AUD/NZD – 1.0975

AUD/JPY – 88.644

COMMODITIES: 

Gold – A$1621/oz

Silver –  A$21.13/oz

WTI – US$50.03/barrel

DATA RELEASES TODAY:

AUD - Retail Sales and Trade Balance at 11.30am

***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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