Edit Content

CAFX Market Update 14/3/2023

Welcome to our daily market update, where we help keep you informed on the latest happenings in the world of FX.
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


AUD/USD pair starts the first day of the week at 0.6575, with an intraday high of 0.6718. The pair trades at 0.6667 at the time of this writing, up by 1.26% on the day.

With recent events on Silicon Valley Bank and Signature Bank, market participants have diminished expectations for additional interest rate hikes from the Fed. Predictions have reduced the likelihood of a 0.50% increase in the Fed rate in March.

Consequently, the US Dollar Index has fallen to its lowest level in a month, trading near 103.60 at the time of this writing. Resulting a rally for the Aussie dollar.

Investors will be closely watching the US Consumer Price Index set to be released on Tuesday, to gain a better understanding of potential Federal Reserve actions on the pace of interest rate decisions, given the recent events with SVB.

On the Aussie front, both the Employment Change and Unemployment Rate will be release on Thursday and will be the key economic events for AUD this week.