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CAFX Market Update 08/02/2022

Welcome to our daily market update where we help keep you informed on the latest happenings in the world of FX and show you what this means for the Mighty Aussie Dollar.

If you have any questions or would like anything further explained, please don’t hesitate to reach out to your account manager or email info@cafx.com


Key Data Being Released Today

Australia – Business Confidence

Japan – Trade Balance December(-¥200.7b expected)

Japan – Labor Cash Earnings December(+0.9% expected)


Macro Report

Major currencies were mixed against the US dollar in European and US trade. The Aussie dollar rose, clawing back a lot of Fridays losses, from near US70.80 cents to US71.25 cents and was near highs in afternoon US trade. It was the best performing of the G10 currency pairs overnight. The Aussie dollar also seen to be somewhat of a beneficiary of post Lunar New Year sentiment, with Chinese equity indices trading higher as well as Iron Ore and Australian mining stocks.

The Euro generally held between US$1.1415 and US$1.455 and was near US$1.1440 in afternoon US trade, giving back just a little of last weeks gains post the ECB meeting.

European equity markets traded higher, US indices were mixed, whilst US long-term treasuries rose.

In geopolitical news, French President Macon is sitting down with Russian president Putin in an attempt to deescalate the Ukraine situation.

The economic calendar remains rather light early in week. Ahead, In Australia, the NAB business survey is released with ANZ/Roy Morgan weekly consumer confidence. In the US, international trade data is released with Economic Optimism and Business Optimism surveys.


AUD/USD Daily Chart






Major Global Markets

Currencies Level Change (%)
AUD/USD 0.7125 0.75
AUD/JPY 81.995 0.57
AUD/CNH 4.5328 0.67
DXY 95.4440 -0.04
Rates Yield (%) Change (%)
US 10 Year 1.918 0.01
Aus 10 year 2.05 0.04
Equities Level Change (%)
S&P 500 4484 -0.37
NASDAQ 14571 -0.84
ASX 200 7111 -0.13
Commodities Level Change (%)
Iron Ore 132.5 0.00
Gold 1821.04 0.71
Brent Crude oil 92.93 1.31