Compass Global Markets' Blog

Market Update - 25th March 2020 - AUD Makes Gains, U.S Stocks Rally 9 to 11%

Posted by Patrick Downes on March 25, 2020 at 9:46 AM

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.

Stocks Make Big Gains:

Markets have continued to post volatile sessions with last night no exception. U.S stocks rose a whopping 9 to 11% as investors swarmed back into beaten down stocks. Large cap stocks like Apple and Alphabet (Google) added as much as 7-10% as Trump declared he wanted the U.S reopened by Easter - a tough ask and probably a pipe-dream. Our local market is set to have a great session with ASX200 Futures suggesting a gain of as much as 8% today.

AUD Rallies:

The Aussie Dollar which touched decade lows last week has also rebounded strongly, up some 4 cents or so vs. the Greenback and around 3 Yen vs. the JPY since Monday. Whether we hold onto these gains remains to be seen, but the bounce gives Importers an opportunity to make payments at considerably higher levels than this time last week.

AUD EXCHANGE RATES:

AUD/USD – 0.5944

AUD/GBP – 0.5041

AUD/EUR – 0.5502

AUD/NZD – 1.0211

AUD/JPY – 66.223

OTHER MARKETS:

All Ords (XAO) – 4,753

Gold – A$2,731/oz

Silver –  A$24.02/oz

WTI – US$25.18 barrel

DATA RELEASES TODAY:

GBP - CPI y/y at 8.30pm

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick - 0431 278 632 

  Email Patrick: patrick@compassmarkets.com

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 DISCLOSURE AND DISCLAIMER - GENERAL ADVICE WARNING
The information provided in this report has been prepared without taking into account your particular objectives, financial situation or needs. You should consider whether our products are appropriate for you and read the FSG and PDS which are available on this website.
This report and must not be copied, either in whole or in part, or distributed to any other person.
All references to prices, amounts and currency are in Australian dollars unless otherwise noted.
This report is provided for Australian residents only and is not intended for use by residents of any other country.

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