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Market Update 29/05/2024

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 traded marginal losses against the USD amid higher US Treasury yields.  A softer-than-expected US 5-year Treasury note auction boosted the safe haven Dollar, which registered gains versus most other currencies. As Wednesday morning, the AUD/USD trades at 0.6649.

On the US front Consumer Confidence persists after hitting 102.0 from 97.5, the highest after registering  three months of decreases. The lift was primarily meaning consumer spending may remain strong in later half of the year.

US Treasury bond yields jumped on a softer US 5-year T-note auction, with the 10-year note coupon rising seven BSP to 4.548%, fueling the USD.

On the local front, monthly CPI for April. Analysts expectations 3.5% YoY to 3.4%, this could give AUDUSD traders some direction with more first tier economic data scheduled for the second half of the week.

Economic data to watch out for.

• AU – Apr. Westpac Leading Index m/m
• NZ – May. ANZ Business Confidence
• AU – Apr. CPI y/y
• JP – BOJ’s Adachi Speaks
• Germany – Jun. Gfk Consumer Confidence
• EU – ECB’s Villeroy speaks
• EU – Apr. M3 Money Supply y/y 
• Germany – May. CPI y/y
• US – May. Richmond Fed Manufact Index
• US – Federal Reserve Release Beigh Book

Mid market rates.

Currency PairMid-market rate


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