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CAFX Market Update 26/07/2022

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

Canada                    – Wholesale Sales (MoM) (Jun)
United States         – S&P/CS HPI Composite – 20 n.s.a. (YoY) (May)

Macro Report

The US dollar (via the DXY index) pulled back overnight as markets await Federal Reserve’s interest rate decision. The Fed will hold its 2-day meeting beginning Wednesday, where it is expected officials will raise rates by 75 basis-point.

The Aussie dollar remains above the 69-cent level, benefiting from higher iron ore prices in Asia.
In regard to other commodities, copper gained nearly 2% again while gold held on to its recent gains at the $1720USD per ounce level.

The benchmark S&P 500 rose 0.13%, while the tech-heavy Nasdaq-100 Index (NDX) dropped.

AUD/USD Daily Chart

DXY (USD INDEX) Daily Chart

Major Global Markets 

Currencies Level Change (%)
AUD/USD 0.6969  0.20
AUD/JPY 95.0210 -0.05
AUD/CNH 4.7026  0.22
DXY 106.22  1.02
Rates Yield (%) Change
US 10 Year 2.78 -0.019
Aus 10 year 3.33 -0.013
Equities Level Change (%)
S&P 500 3966.84  0.13
NASDAQ 11782.67 -0.43
ASX 200 6790.10  0.01
Commodities Level Change (%)
Iron Ore 105.42  0.03
Gold 1726.06  0.37
Brent Crude oil 106.17  0.97