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.
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
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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Senior Corporate FX Dealer
Phone Patrick - 0431 278 632
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