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Market Update 9/07/2024

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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AUDUSD trades around 0.6739 as market participants awaits for US inflation data later on in the week, the lack major economic data prevents the pair to make any big moves.

US equities stayed relatively stable as the market awaits the earnings season, monitors the US presidential race, and looks for clues on the Fed’s next moves. The yield on the US 10-year bond fell by 1bp to 4.27%. Meanwhile, the US dollar strengthened against all G10 currencies over the past 24 hours.

Today, there are only minor economic releases, such as Australian business and consumer confidence data and the US NFIB small business survey. Attention will be on Fed Chair Powell’s comments to Senate lawmakers, but the key focus will be on the upcoming US CPI report later this week, which will have a greater market impact.

Economic data

• AU – Jul. Westpac Consumer Conf Index
• AU – Jun. NAB Business Confidence
• JP – Jun. Machine Tool Orders y/y
• CN – Money Supply y/y
• US – Jun. NFIB Small Business Optimism
• US – Fed’s Powell Testifies to Senate Banking
• JP – Jun. PPI y/y

Mid market rates.

Currency PairMid-market rate

AUD/USD 24 Hour


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