Good Morning,
Market Headlines
Sentiment remained positive overnight, NASDAQ gaining 1.6% and the S&P500 up 1.0% higher to a fresh record high. Commodities saw Brent oil futures fell 0.5% to $45.65, copper rose 1.1%, iron ore rose 2.1% to $123.90, and gold rose 1.2%.
Currencies
AUD/USD: 0.7188 – 0.7239
EUR/USD: 1.1773 – 1.1839
GBP/USD: 1.3118 – 1.3219
USD/JPY: 105.97 – 106.46
USD/CAD: 1.3132– 1.3205
NZD/USD: 0.6544 – 0.6619
AUD/JPY: 76.39 – 76.75
AUD/NZD: 1.0935 – 1.0988
AUD Thoughts
- AUD/USD bulls are testing weekly resistance as the Australian and global economic recovery remains on track.
- The bearish best against the US dollar continues to mount as we head into the Jackson Hole.
AUD/USD is currently trading at 0.7235 and higher by 0.59% on the day having travelled between a low of 0.7187 and a high of 0.7239.
Event Risk Data Today
AU – Q2 CAPEX
CN – July industrial profits
US – Weekly jobless claims
US – Q2 GDP (second reading)
US – July pending home sales
US – Fed’s Powell gives speech from Jackson Hole