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30/09/2021 Thursday

Key Data Being Released Today.


  • USD Pending Home Sales m/m
  • USD Crude Oil Inventories: Prev. -3.5M
  • BOE Gov Bailey Speaks
  • USD Fed Chair Powell Speaks
  • CNY Manufacturing PMI: Exp.50.3
  • USD Final GDP q/q: Exp. 6.7%
  • USD unemployment claims: Exp. 328K
  • USD Chicago PMI: Exp.64.9


The Aussie Dollar


Market volatility has picked up on Wednesday with the US dollar surging to fresh weekly highs despite the US debt ceiling risks as the Fed narrative reigns over market sentiment, resulting in the significant fall for the Aussie Dollar overnight.


The AUD has its back up against the wall facing many risks such as our relationship with China, this has been brewing ever since Australia called for an investigation into the origins of the coronavirus. In return China has since imposed tariffs on a range of Australian goods, which has already cost more than AUD6 billion in lost exports.


Furthermore, the ongoing Delta variant forcing our largest cities and economies into lengthy lockdowns. This has in turn has forced the RBA to postpone its monetary policy and QE tapering.


The blows don’t stop there, the Evergrande risk event sent shutters through the market, and on top of this Iron Ore (our largest Export) has continued to fall. Iron Ore has fallen over 100 USD/T since July this year.

All these things combined have combined and are weighing heavy on the Aussie Dollar, Analysts from Wells Fargo have a very grim outlook on the AUD/USD stating, “the AUD/USD exchange rate could fall as low as 0.6500 and may struggle to get back to even 0.7000 over the medium term.”


If you want to discuss how a how we can help your business protect itself from further declines in the AUD/USD, please get in contact with your account manager or email us at sales@cafx.com


AUD/USD Daily Chart

Major Global Markets

  • Stocks
    • S&P 500 closed at 4359
    • NASDAQ closed at 14782
    • ASX 200 closed at 7196
  • Currencies
    • AUD/JPY – At the time of writing this report trades at 80.34
    • AUD/CNH – At the time of writing this report trades at 4.6456
    • DXY (US Dollar Index) – At the time of writing this report trades 94.353
    • AUD/EUR – At the time of writing this report trades 0.6186
  • Bonds
    • US 10-year Bonds have continued to rise, currently at 1.524%
  • Commodities
    • Iron Ore – Trading at USD/T 119.7
    • Gold – trading at USD/OZ 1728
    • Brent Crude Oil – Trading at USD/Bbl 74.44