Edit Content

CAFX Market Update 24/08/2022

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

United States         – Core Durable Goods Orders (MoM) (Jul)
Canada                    – Wholesale Sales (MoM)

Macro Report

Stocks retreated following downbeat economic data, while markets await cues on the Federal Reserve’s monetary policy path from the Jackson Hole Symposium later this week. With trading volume among the lowest in 2022, the Dow fell 154.02 points, or 0.47%, to 32,909.59. The S&P 500 dropped another 0.22% to 4,128.73, and the Nasdaq Composite tumbled 0.27 points to 12,381.30.

The risk-sensitive Aussie dollar is somewhat holding up due to disappointing US data, sitting at 0.6919 level against the USD at the time of writing. This early morning’s US New Home Sales data revealed a sharp fall in July, with new single‐family homes declining by 12.6% to a seasonally adjusted annualised number of 511,000 sold homes. Lower-than-expected readings continued to push the US dollar Index (DXY) lower towards 108.00. However, recent softening data from China, provoking escalated worries about the Chinese economy and broader global downtrend, will likely continue to weigh on the Aussie dollar given the country’s high exposure to trade.

AUD/USD Daily Chart

DXY (USD INDEX) Daily Chart



Major Global Markets 

Currencies Level Change (%)
AUD/USD 0.6917 -0.20
AUD/JPY 94.6070 -0.17
AUD/CNH 4.7374 -0.14
DXY 108.6240 -0.39
Rates Yield (%) Change
US 10 Year 3.05 0.065
Aus 10 Year 3.64 0.061
Equities Level Change (%)
S&P 500 4128.73 -0.22
NASDAQ 12381.30  0.00
ASX 200 6961.81 -1.21
Commodities Level Change (%)
Iron Ore 105.52  0.96
Gold 1760.20 -0.06
Brent Crude oil 100.22  3.88