Welcome to our daily market update, where we help keep you informed on the latest happenings in the world of FX.
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
The AUD losses ground against the USD as Fed officials reluctant to hint at when rate cuts begin. leading to US Treasury bond yields falling, while the Greenback trades around 104.62. The AUD/USD trades at 0.6668
Even though Fed commentary was slightly “hawkish,” US Treasury yields dropped, but the US Dollar remained steady. furthermore market participants brace for the release of the FOMC minutes on Wednesday.
On the local front, the minutes of the Reserve Bank of Australia’s last meeting were slightly hawkish as RBA board members considered a rate hike during their discussions.
Over in New Zealand RBNZ rate decision will be the main focus today for with the expectation for the Reserve Bank to hold rates at 5.5%
Economic data to watch out for.
AU – Judo Bank Australia PMI Composite
• JP – Mar. Core Orders
• JP – Apr. Trade Balance
• NZ – RBNZ Official Cash Rate
• UK – Apr. CPI y/y
• UK – BOE’s Breedan Speaks
• US – FOMC Meeting Minutes
Mid market rates.
| Currency Pair | Mid-market rate |
| AUD/USD | 0.6671 |
| AUD/NZD | 1.0933 |
| AUD/JPY | 104.19 |
| AUD/CNY | 4.8349 |
| AUD/EUR | 0.6142 |
| AUD/GBP | 0.5246 |
Disclaimer:
The market update provided by Corporate Alliance FX (CAFX) is for reference only and does not constitute a bid, levy, offer or invitation to offer for the financial product, the basis for any contract or commitment, a recommendation for the purchase or sale of any investment instruments, financial, legal, tax, investment advice, investment advice or other opinions. It will not be legally liable for any consequences or losses caused by the information or content involved.
Corporate Alliance Group Pty Ltd T/A Corporate Alliance FX (CAFX) (ABN 58 167 119 226, AFSL 523351) (i.e. CAFX), CAFX independently holds the Australian Financial Services licence no. 523351 (AFSL), so CAFX is regulated by the Australian Securities and Investment Commission (ASIC) and, and although ASIC is a strictly regulatory body, it does not endorse a specific financial product. ASIC’s regulation of CAFX applies to all services under the financial licence held by CAFX, including the issuance of foreign exchange settlement, foreign exchange payments, foreign exchange risk control, hedging, market making and providing financial advice.
