Edit Content

Market Update 31/05/2024

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

AUD gained  against the USD on Thursday, as US Q1 2024 GDP data was softer than expected, sparking a fall in US Treasury yields and the safe haven dollar. AUD/USD trades at 0.6632.

The economy in the United States posted weaker-than-expected figures. The GPD for the first quarter in the second estimate expanded by just 1.3%, lower than the 1.6% expected, 

Weekly jobless claims printed close to expectations with initial claims at 219k (217k exp) and continuing claims at 11.791 mio (1.796 exp). Other data showed that Pending Home Sales for April fell from 3.6% to -7.7% MoM 

Economic data to watch out for.

• JP – Apr. Jobless Rate
• JP – Apr. Job-To-Applicant Ratio
• JP – May. Tokyo CPI y/y
• JP – Apr. Industrial Production y/y
• AU – Apr. Private Sector Credit y/y
• CN – May. PMIs
• UK – May. Nationwide House Px
• UK – Apr. Mortgage Approvals
• EU – May. CPI m/m
• CA – Q1. GDP y/y
• US – Apr. PCE Deflator
• US – Apr. Personal Spending
• US – Fed’s Bostic Speaks

Mid market rates.

Currency PairMid-market rate


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.