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19/10/2021 Tuesday

Key Data Being Released Today


  • USD Industrial Production m/m: 0.3%
  • AUD Monetary Policy Meeting Minutes

The Aussie Dollar

The Aussie Dollar remains flat at around 0.7410 ahead of the RBA meeting minutes this morning, where it will be looking for some direction.

The AUD struggled to capitalize on its early gains to the 0.7435 regions and witnessed an intraday turnaround. The corrective pullback extended through the early part of the European session and dragged the AUD below the 0.7400.


The downfall was supported by a pickup in USD demand, bolstered by a fresh leg up in the US Treasury bond yields. This, along with a softer risk tone and disappointing Chinese GDP print, further benefitted the USD’s relative safe-haven status and contributed to driving flows away from the perceived riskier AUD.


Furthermore, disappointing figures from China, one of Australia’s major trading partners, have increased doubts about the world’s second economy, adding bearish pressure on the AUD. According to the Chinese GDP, the country’s economy grew at a 4.9% pace in the third quarter, missing expectations of a 5.2% increment according to analysts polled by Reuters, while Industrial production increased 3.1%, against market expectations of a 4.5% reading by Reuters


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AUD/USD Daily Chart

Major Global Markets

  • Stocks
    • S&P 500 closed at 4486
    • NASDAQ closed at 15303
    • ASX 200 closed at 7381
  • Currencies
    • AUD/USD – At the time of writing this report trades at 0.7408
    • AUD/JPY – At the time of writing this report trades at 84.68
    • AUD/CNH – At the time of writing this report trades at 4.7582
    • DXY (US Dollar Index) – At the time of writing this report trades 93.947
    • AUD/EUR – At the time of writing this report trades 0.6382
  • Bonds
    • US 10-year Bonds are currently at 1.591
  • Commodities
    • Iron Ore – Trading at USD/T 123.4
    • Gold – trading at USD/OZ 1763

Brent Crude Oil – Trading at USD/Bbl 84.12