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Market Update 21/05/2024

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 losses against the USD on Monday, rising US Treasury yields underpinned the Greenback.  As the Tuesday Asian session begins, the AUD/USD trades at 0.6668.

US economic data was absent to start the week, though several Fed officials. stated that it is too early to tell if the inflation has been beaten, also mentioning the Fed has to be cautious of premature cuts.

Local economic data would feature the release of RBA meeting minutes. ANZ analysts wrote, “We suspect the decision to keep rates on hold was not a close one, given the tone of the post-meeting statement.”

Economic data to watch out for.

• AU – May. Westpac Consumer Conf Index
• AU – RBA Minutes of May Policy Meeting
• Germany – Apr. PPI
• CA – Apr. CPI
• US – Fed’s Barkin, Waller, Williams Speaks
• UK – BOE’s Bailey sSpeaks
• US – Fed’s Bostic, Collins and Mester Panel

Mid market rates.

Currency PairMid-market rate


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