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CAFX Market Update 15/09/2022

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

Japan                        – Trade Balance (Aug)
Australia                  – Employment Change (Aug)
Eurozone                – Trade Balance (Jul)
United States         – Retail Sales (MoM) (Aug)
Export/Import Price Index (MoM) (Aug)
Initial Jobless Claims
Philadelphia Fed Manufacturing Index (Sep)
Industrial Production (MoM) (Aug)

Macro Report

Markets rebounded overnight, following the heavy selloff the day prior, but there was no recovery.

Major currencies were mixed against the US dollar in European and US trade. The Aussie dollar rose from US67.05 cents to highs near US67.60 cents and was near US67.45 cents at the US close.  The Japanese yen rose from near 143.89 yen per US dollar to JPY142.56, following the BoJ performing a rate check with dealers, a potential prelude to market intervention in their currency.

In US economic data, the producer price index (PPI) fell by 0.1% in August after a 0.4% fall in July (survey: -0.1%) but was up by 8.7% on the year (survey: +8.8%). The core PPI (ex-food and energy) rose by 0.4% in August (survey: +0.3%) to be 7.3% higher on a year ago (survey: +7.1%). MBA mortgage applications fell by 1.2% in the past week after falling by 0.8% in the previous week.

Ahead today, in Australia we will see Australian employment data.  Following that, tonight will have Trade balances in Europe.  Whilst the US will have a busy calendar with Retail sales, Initial Jobless claims, Phili Fed Manufacturing & Industrial Production.

AUD/USD Daily Chart

DXY (USD INDEX) Daily Chart

Major Global Markets 

Currencies Level Change (%)
AUD/USD 0.6753 0.07
AUD/JPY 96.61 0.01
AUD/CNH 4.7073 0.04
DXY 109.648 -015
Rates Yield (%) Change
US 10 Year 3.4120 -0.01
Aus 10 year 3.663 0.010
Equities Level Change (%)
S&P 500 3946 0.34
NASDAQ 11720 0.74
ASX 200 6829 -2.58
Commodities Level Change (%)
Iron Ore 100.43 -0.99
Gold 1706.8 -0.14
Brent Crude oil 94.41 1.33