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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Equities had a mixed performance as financial markets began to stabilize after last week’s volatility. The S&P 500 remained steady, while the Nasdaq Composite managed a slight gain of 0.2%. In Europe, the Euro Stoxx 50 dipped by 0.1%, but the FTSE 100 rose by 0.5%. Meanwhile, the yield on the US 10-year note fell by 3.2 bps to 3.91%. After a week of turbulent trading, markets are now showing some resilience, and cautiously awaiting key US inflation data, which is expected in the early hours of Thursday
The US NY Fed’s survey showed a slight decrease in consumer expectations for inflation over the next year, down to 2.97% in July from 3.02% in June. Expectations for the next three years dropped by 0.66% to a record low of 2.3%. In July, more households reported finding it harder to access credit compared to a year ago.
We have three important Australian economic updates: Westpac Consumer Sentiment at 12:30 PM, and both the Wage Price Index and NAB Business Confidence at 1:30 PM. Our Australian economic team expects the Wage Price Index to rise by 0.9% quarter-on-quarter for Q2, due to seasonal factors, but to slightly decline year-on-year to 4.0% from 4.1%.
Mid market rates.
| Currency Pair | Mid-market rate |
| AUD/USD | 0.6580 |
| AUD/NZD | 1.0931 |
| AUD/JPY | 96.75 |
| AUD/CNY | 4.7236 |
| AUD/EUR | 0.6018 |
| AUD/GBP | 0.5154 |
AUD/USD 24 Hour
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