Please note that the commentary below is factual information provided to a group of readers as a web blog, and where an opinion is expressed by the author, it is GENERAL ADVICE only.
AUD Drifts Lower:
Stocks dipped across Europe and the U.S and the Aussie fell overnight as sea-sawing trade negotiations between the WH and China and a damning impeachment inquiry caused investors to reassess their positions leading into the weekend. AUD/USD and the other AUD crosses are all down over half a percent while the Australian All Ords Index has crumbled 120 points or nearly 2% since Wednesday morning, but is tipped to open half a percent higher this morning.
Manufacturing and Services Data:
Economic data due out today consists mainly of manufacturing and services PMI data out of Europe and also locally, however our manufacturing and services data doesn't tend to be a market mover. As a large manufacturing hub driven by German, France and the UK, this European data though provides a real insight into the health of the European economy as such it'll be watched closely this evening. Expectations are for marginal improvement across all metrics tonight which could provide a boost for European stock markets.
AUD EXCHANGE RATES:
AUD/USD – 0.6756
AUD/GBP – 0.5227
AUD/EUR – 0.6103
AUD/NZD – 1.0564
AUD/JPY – 73.411
All Ords (XAO) – 6,777
Gold – A$2,158/oz
Silver – A$25.21/oz
WTI – US$58.32 barrel
DATA RELEASES TODAY:
EUR - German Flash Manufacturing and Services PMI at 7.30pm
GBP - Flash Manufacturing and Services PMI at 8.30pm
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Senior Corporate FX Dealer
Phone Patrick - 0431 278 632
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