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21/10/2021 Thursday

Key Data Being Released Today.



  • USD Crude Oil Inventories: exp. 6.1M
  • USD Philly Fed Manufacturing Index: exp. 24.3
  • USD Unemployment Claims: exp. 298K



The Aussie Dollar

The Aussie Dollar has continued its impressive week, rallying from a low of 0.7465 earlier in the week and reaching a high of 0.7522 overnight.


It was a US dollar story to start the day with the market showing an upbeat tolerance to risk as investors focused on rising commodity prices which has supported the Aussie Dollar. The US Dollar Index fell from a one-year high last week with other central banks also sounding the alarm with regards to inflation and a need to act.

There is also a technical case for a rebound in the 10-year US bond yields which sank to 1.62% on Wednesday from a high of 1.673%.  However, they are now steadied and could be on the verge of another surge to the upside from a technical perspective. Should the US yields break higher, there is a high probability it could take the USD for a ride to the upside as well. This could prove a major headwind for commodity currencies like the AUD towards the end of the week.


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AUD/USD Daily Chart

Major Global Markets

  • Stocks
    • S&P 500 closed at 4536
    • NASDAQ closed at 15372
    • ASX 200 closed at 7413
  • Currencies
    • AUD/USD – At the time of writing this report trades at 0.7517
    • AUD/JPY – At the time of writing this report trades at 85.98
    • AUD/CNH – At the time of writing this report trades at 4.8024
    • DXY (US Dollar Index) – At the time of writing this report trades 93.598
    • AUD/EUR – At the time of writing this report trades 0.6451
  • Bonds
    • US 10-year Bonds are currently at 1.660
  • Commodities
    • Iron Ore – Trading at USD/T 123.5
    • Gold – trading at USD/OZ 1782
    • Brent Crude Oil – Trading at USD/Bbl 85.86