Edit Content

CAFX Market Update 7/03/2022

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

Australia – ANZ Job Advertisements

China – Trade Balance ($95b YTD expected)


Macro Report

A continuation of the same themes from last week with the USD proxy continuing its charge higher whilst currencies such as EURUSD hit a low not seen since June 2020 near the peak of Covid news. However the commodity currencies remain shielded and continue to surge higher as commodity prices continue to climb.

Despite the shelling of the nuclear powerplant, reports that radiation levels remained steady put the market back at ease but still on high alert for this conflict. Stocks behaved more predictably as the market continues to weigh on the risks with the ongoing conflict between Russia and the Ukraine. The proposed humanitarian corridor and ceasefire has already been broken twice with both sides blaming each other for the violation.

US Treasuries yields continued to fall with the 10 year down 11bp to 1.73%, despite the US economy creating 678k jobs vs 423k expected. It wasn’t all good news though as surprisingly average earnings were lower than expected (0% MoM vs 0.5% expected).

Lastly, as noted earlier, commodities continue their pathway higher with Brent up close to 7% whilst Gold was up 1.6%. The question now being with all these rising prices and inevitably inflation, how much will rate hikes hamper the economy.


AUD/USD Daily Chart






Major Global Markets

Currencies Level Change (%)
AUD/USD 0.7362 -0.12
AUD/JPY 84.706 0.01
AUD/CNH 4.6541 -0.23
DXY 98.6480 0.88
Rates Yield (%) Change (%)
US 10 Year 1.731 -0.11
Aus 10 year 2.115 -0.04
Equities Level Change (%)
S&P 500 4329 -0.79
NASDAQ 13838 -1.41
ASX 200 7111 -0.57
Commodities Level Change (%)
Iron Ore 140.06 5.03
Gold 1970.7 1.80
Brent Crude oil 118.11 6.93