Compass Global Markets' Blog

Market Update - 9th October 2017 - Strong Economic Data Abroad Weighs On AUD Crosses

Posted by Patrick Downes on October 9, 2017 at 9:04 AM

AUD is lower across the board this morning following stronger than expected economic data out of the U.S, U.K and Europe which has added further economic wind to the sails of their respective currencies. AUD/USD has consolidated below 0.78 and may be headed lower, while AUD/EUR and AUD/GBP have both lost considerable ground over the past 8-9 months with probably more of the same expected. For those clients importing in EURO or GBP it would certainly be worthwhile looking at some form of hedging arrangement to manage risk of further declines in the Aussie dollar.

There is no economic data released today locally or abroad and there is an addition bank holidays in Japan, the U.S and Canada, so payments to these countries will be delayed one day.

AUD EXCHANGE RATES:

AUD/USD – 0.7772

AUD/GBP – 0.5935

AUD/EUR – 0.6622

AUD/NZD – 1.0997

AUD/JPY – 87.513

COMMODITIES: 

Gold – A$1641/oz

Silver –  A$21.64/oz

WTI – US$49.41/barrel

DATA RELEASES TODAY:

No data today or tonight

Bank holidays for Japan today, US and Canada tonight

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

Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.

 

Open Account 

Patrick's Signature-802090-edited.jpg

Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

CompassFB-1

 

Topics: Report, Market

Compass Global Markets' Blog

Subscribe to Email Updates

Recent Posts