Compass Global Markets' Blog

Market Update - 7th July 2017 - Equities & The Aussie Dollar Decline, Commodities Make Gains

Posted by Patrick Downes on July 7, 2017 at 8:22 AM

Equities and the Aussie dollar fell overnight however commodities performed quite well managing to make modest gains across the board. U.S equities were dragged down by poorer than anticipated preliminary ADP jobs numbers which failed to meet estimates and more than likely point to the fact that the official U.S Non-Farm payrolls figure tonight could also be weak.

Ahead this evening is UK manufacturing production figures at 6.30pm followed by U.S non-farm payrolls and the accompanying data around 10.30pm this evening. Estimates suggest we'll see around 175K new jobs created and very modest increase in earnings for the average U.S worker. The U.S unemployment rate is not expected to budge from 4.3%. Have a fantastic weekend and should you wish to take advantage of volatility tonight - then a Market Order would be the best course of action.

DATA RELEASES TODAY:

GBP - Manufacturing Production at 6.30pm

ALL - G20 Meetings

USD - Non-Farm Payrolls at 10.30pm

AUD EXCHANGE RATES:

AUD/USD – 0.7583

AUD/GBP – 0.5846

AUD/EUR – 0.6639

AUD/NZD – 1.0421

AUD/JPY – 85.833

***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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