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CAFX Market Update 24/12/2021

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 Friday the 24th of December 2021

  • US markets will be closed today, along with several European centers.
  • Today
    • JPY Core CPI

The Aussie Dollar – Fundamentals
The Aussie dollar continues its recent move higher, lifting from lows near US72.08 cents to highs near US72.51 cents and was near US72.45 cents at the US close.  The Aussie was buoyed by strong US markets and an ease in fears about the economic impact of the Omicron coronavirus variant, with the S&P 500 marking a record-high close.  Global oil prices lifted on Thursday and better than-expected US economic data also boosted sentiment, Initial jobless claims were steady at 205,000 last week (survey: 205,000). Personal income rose 0.4% in November (survey: +0.4%) with spending up 0.6% (survey: +0.6%). The inflation measure – the core PCE deflator – lifted 0.5% in November.  The US Food and Drug Administration granted authorisation for both Pfizer and Merck’s Covid-19 anti-viral pills

The Aussie Dollar – Technical Analysis

Resistance on the Top Side – Resistance on the Pivot Analysis at 0.7262, then closely followed by resistance at 0.7292.
Support on the Downside –   Support at 0.7186.

AUD/USD Daily Chart

DXY (USD INDEX) Daily Chart

Major Global Markets

  • Stocks
    • S&P 500 closed at 4725
    • NASDAQ closed at 15653
    • ASX 200 closed at 7387


  • Currencies
    • AUD/USD – At the time of writing this report trades at 0.7244
    • AUD/JPY – At the time of writing this report trades at 82.86
    • AUD/CNH – At the time of writing this report trades at 4.6183
    • DXY (US Dollar Index) – At the time of writing this report trades 96.052
    • AUD/EUR – At the time of writing this report trades 0.6392


  • Bonds
    • US 10-year Bonds are currently at 1.4926
    • Aussie 10-year Bonds are currently at 1.622


  • Commodities
    • Iron Ore 62% – Trading at USD/T 113.78
    • Gold – trading at USD/OZ 1811
    • Brent Crude Oil – Trading at USD/Bbl 76.85