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CAFX Market Update 20/10/2022

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

Key Data Being Released Today

Australia                  – Employment Change (Sep)
China                         – PBoC Loan Prime Rate
United States         – Initial Jobless Claims
Philadelphia Fed Manufacturing Index (Oct)
Existing Home Sales (Sep)

Macro Report

The US dollar was stronger overnight against major currency pairs overnight.  The Aussie gave up it gains up near 0.6316, falling as low as 0.6252 before settling around 0.6271.

One of the driving themes for the evening was ongoing inflation fears, with both UK and Canadian CPI figures printing higher than expected.

Central bankers from the US and Eurozone also stoked markets with hawkish comments.

US treasuries pushed higher amongst the backdrop, the 10-year to a cycle high of 4.12%.

Ahead today, Australia has lead with employment data.  Overnight, the US will release home sales numbers as well as weekly jobless claims.

AUD/USD Daily Chart

DXY (USD INDEX) Daily Chart

Major Global Markets 

Currencies Level Change (%)
AUD/USD 0.6263 -0.11
AUD/JPY 93.90 -0.09
AUD/CNH 4.5538 -0.07
DXY 112.91 0.70
Rates Yield (%) Change
US 10 Year 4.1270 0.129
Aus 10 year 4.029 -0006
Equities Level Change (%)
S&P 500 3695 -0.67
NASDAQ 10681 -0.85
ASX 200 6800 0.31
Commodities Level Change (%)
Iron Ore 94.86 -0.35
Gold 1634.3 -0.89
Brent Crude oil 92.4 2.63