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.
Equities & AUD Rally:
The Aussie Dollar has rallied with equities overnight following a sell off which lasted most of last week and saw the AUD/USD wholesale exchange drop from 0.6850 down to a low of 0.6677. Today we're in better shape around the 0.6700 figure and if coronavirus fears ease then we may see a sustained rally through the week. Equities across Europe and the U.S performed particularly well bouncing back around 1.5-2% with stock futures trading suggesting perhaps another good night ahead. Our local market is tipped to open nearly 1% higher.
Other than that there is not a great deal further to add. So just a short one from me today. Expect more consistent morning market updates from me as I'm back from a longish hiatus overseas.
AUD EXCHANGE RATES:
AUD/USD – 0.6708
AUD/GBP – 0.5140
AUD/EUR – 0.6069
AUD/NZD – 1.0340
AUD/JPY – 73.464
All Ords (XAO) – 7,047
Gold – A$2,304/oz
Silver – A$26.13/oz
WTI – US$49.66 barrel
DATA RELEASES TODAY:
AUD - RBA Gov. Lowe speaks at 12.30pm
USD – ADP Prelim Jobs Number at 12.15am
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Phone Patrick - 0431 278 632
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