12th October 2020 - AUD holds above 0.7200 with US Markets observing Columbus Day

Market Headlines

Sentiment moved in a positive direction heading into the US long weekend with Trump’s support for a large scale Covid support package. The S&P500 closed up 0.9% to a one-month high, the US dollar fell, and bond yields rose slightly. Commodities, Brent crude oil futures fell 1.1% to $42.85, copper rose 1.3%, and gold rose 1.9%.


AUD/USD: 0.7173 – 0.7243

EUR/USD: 1.1767 – 1.1831

GBP/USD: 1.2922 – 1.3050

USD/JPY: 105.59 – 105.98

USD/CAD: 1.3110 – 1.3187

NZD/USD: 0.6599 – 0.6672

AUD/JPY: 75.95 – 76.52

AUD/NZD: 1.0850 – 1.0876

AUD Thoughts

AUD/USD reached a high of 0.7243 at the close of last week as demand now likely to have been raised to the 0.7180/.7200 region while offering interest should gather momentum with a push toward 0.7300 region

Event Risk Data Today

Eurozone: EU/UK post-Brexit trade talks will continue.

Japan: Capital investment remains challenged by uncertainty, with PPI (prior: 6.3%, market f/c: -0.4%).

New Zealand: Net migration in August will remain depressed by border restrictions (prior: -26).

UK: BOE commentary from Haskel and Bailey

US: partially closed for Columbus Day.

Recent Posts

See All


This material is provided by Navigate Global Payments (Navigate) ACN 615 699 888, AFSL 502711.  The material contains general commentary only and does not constitute investment or any other advice.  Certain types of transactions, like futures, options and high yield securities can be risky, and not suitable for all investors.  This information has been prepared without considering your objectives, financial situation or needs.  Please seek your own independent legal or financial advice before proceeding with any investment decision.  The information is believed to be accurate at the time of compilation and is provided in good faith.  Navigate does not warrant the accuracy or completeness of any information contributed by a third party. The information is subject to change without notice and Navigate is under no obligation to update the information. The information contained in this material are opinions of the author at the time of writing and does not constitute an offer, recommendation to act, a solicitation of an offer, or an inducement to subscribe for, purchase or sell any financial instrument or to enter a legally binding contract.  This information, including any assumptions and conclusions is not intended to be a comprehensive statement of relevant practise or law that is often complex and can change.  Past performance is not a reliable indicator of future performance. Any forecasts given in this material are predictive in character.Navigate Global Payments Pty Ltd nor its related parties or officers accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the information contained or related to this site.