Compass Global Markets' Blog

Market Update - 28th November 2019 - Stocks Surge To Record Highs, AUD Stable

Posted by Patrick Downes on November 28, 2019 at 8:24 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 Surge:

U.S stocks continued to make gains overnight on trade optimism with the Dow Jones surging pass 28,100 to a fresh record high. At the same time the local ASX has performed well with ASX200 futures suggesting we'll finally surpass the highs of November 2007.

AUD Stable:

The Aussie Dollar hasn't really moved since my last report on Tuesday and in the absence of economic data this week is likely to move much at all until the RBA cash rate decision next Tuesday. Expectations are that the RBA will hold rates steady at 0.75%.

It's Thanksgiving in the U.S tonight, meaning a Bank Holiday and no USD payments will be processed. Payments will go out Friday evening.

AUD EXCHANGE RATES:

AUD/USD – 0.6745

AUD/GBP – 0.5218

AUD/EUR – 0.6128

AUD/NZD – 1.0521

AUD/JPY – 73.925

OTHER MARKETS:

All Ords (XAO) – 6,950

Gold – A$2,147/oz

Silver –  A$25.02/oz

WTI – US$58.05 barrel

DATA RELEASES TODAY:

AUD - Private Capital Expenditure q/q at 11.30am

USD - Bank Holiday overnight

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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.

Topics: Report, Market

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