Welcome to our daily market update, where we help keep you informed on the latest happenings in the world of FX.
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Key Data Being Released Today
| Japan – | Retail Sales (YoY) (Oct) |
| United States – | CB Consumer Confidence (Nov) |
| S&P/CS HPI Composite – 20 n.s.a. (YoY) (Sep) |
Macro Report
The rocky start to the week continued overnight, the US dollar edging higher on the DXY Index, as markets continued to grapple with the Chinese protests and COVID lockdowns.
Fear remining for what the later could mean for global growth going forward, US shares with Chinese exposure were impacted along with risk assets sensitive to Chinese growth. The Aussie dollar slipped from highs near US67.23 cents to lows near US66.42 cents and before settling near US66.50 cents.
Central Bankers also played a part overnight. Both James Bullard and John Williams, from the US Fed, were both heard with hawkish comments mentioning that their job in curtailing inflation was most likely not complete and for markets to not underestimate changes of higher rates.
In Europe, ECB president Lagarde made mention that inflation in the Eurozone has probably not peaked yet, raising expectations of a super-sized interest rate hike.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.6649 | -1.48 |
| AUD/JPY | 92.35 | -1.23 |
| AUD/CNH | 4.8197 | -0.36 |
| DXY | 106.73 | 0.73 |
| Rates | Yield (%) | Change |
| US 10 Year | 3.687 | 0.004 |
| Aus 10 year | 3.565 | -0.027 |
| Equities | Level | Change (%) |
| S&P 500 | 3965 | -1.52 |
| NASDAQ | 11049 | -1.58 |
| ASX 200 | 7229 | -0.42 |
| Commodities | Level | Change (%) |
| Iron Ore | 92.74 | 0.87 |
| Gold | 1739.1 | -0.81 |
| Brent Crude oil | 83.63 | -2.08 |
