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Market Update 20/05/2024

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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The AUD/USD pair trades near 0.6695 during the early Asian session on Monday. The weaker USD provides fuels pair. The Fed officials are set to speak on Monday. The RBA will publish the minutes of its monetary policy meeting on Tuesday. 

Fed officials remain cautious in cutting rates . painting the same picture of, inflation is easing but has yet  to reach the Fed’s 2% target. monetary policy stance is appropriate as the Fed continues to assess economic data. 

On the local front, Australia’s jobless rate climbed more than expected last month, easing the chance of a rate hike. The recent jobs report added 38.5K jobs in April, while the Unemployment Rate climbed to 4.1%. 

Economic data to watch out for.

• UK – May. Rightmove House Prices
• CN – 1-Year Loan Prime Rate
• CN – 5-Year Loan Prime Rate
• JP – Mar. Tertiary Industry Index m/m
• US – Fed’s Bostic, Barr Speak

Mid market rates.

Currency PairMid-market rate


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