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CAFX Market Update 08/11/2022

Key Data Being Released Today

Australia                  – Westpac Consumer Sentiment (Nov)
NAB Business Confidence (Oct)
New Zealand           – Inflation Expectations (QoQ)
Eurozone                – Retail Sales (MoM) (Sep)
United States         – EIA Short-Term Energy Outlook

Macro Report

Currencies markets remained eventful through Asian hours and then into Europe and US sessions.

The Aussie had fallen nearly 1% in early trade yesterday, before recovering and punching above 64.86 levels today.

One of the key themes seemed to be continued thoughts China may loosen their rigid COVID-zero policy.  The WSJ added to this theme by running their own story suggesting Chinese leaders were looking for way to reopen their economy.

The recent market girations take place ahead of eagerly awaited US mid-term elctions today, then US CPI later in the week.

AUD/USD Daily Chart

DXY (USD INDEX) Daily Chart

Major Global Markets 

Currencies Level Change (%)
AUD/USD 0.6477 0.17
AUD/JPY 94.91 0.99
AUD/CNH 4.6849 1.85
DXY 110.15 -0.53
Rates Yield (%) Change
US 10 Year 4.2140 0.051
Aus 10 year 3.998 0.125
Equities Level Change (%)
S&P 500 3809 1.03
NASDAQ 10562 0.83
ASX 200 6934 0.60
Commodities Level Change (%)
Iron Ore 85.16 2.15
Gold 1678 0.33
Brent Crude oil 98.14 4.12