Market Update - 20th August 2019 - AUD Flat Ahead Of Meeting Minutes & Jackson Hole Symposium

AUD Flat:

Not a great deal to report this morning given the Aussie Dollar remains reasonably unchanged (with the exception of AUD/USD) since yesterday. AUD/USD was the only currency pair to move a notable amount down 20 points (0.0020) or roughly 0.3% overnight. Overall sentiment was positive to start the week and that was demonstrated by strong gains on stock markets in both Europe and the U.S where equities added as much as 1.3%. The DAX and Nasdaq were the best performers.

RBA Minutes & Jackson Hole:

Again we have a pretty quiet day data wise with only RBA Monetary Policy minutes due at 11.30am this morning. Meeting minutes can move the market though so clients wishing to make payments today and avoid downside risks may wish to book payments ahead of the release.

All eyes then move to the FOMC Meeting Minutes on Thursday morning and Jackson Hole Symposium which kicks off Friday morning our time. The Economic Policy Symposium is held annually and is attended by central bankers, finance ministers, academics, and financial market participants from around the world. Expectations are that topics of discussion will be around the trade war, economic growth and how to tackle persistent weak inflation. Expect some fireworks Friday night as participants begin talking to reporters at the end of Day 1.

AUD EXCHANGE RATES:

AUD/USD – 0.6734

AUD/GBP – 0.5547

AUD/EUR – 0.6072

AUD/NZD – 1.0520

AUD/JPY – 71.811

OTHER MARKETS:

All Ords (XAO) – 6,550

Gold – A$2,212/oz

Silver – A$24.98/oz

WTI – US$56.01/barrel

DATA RELEASES TODAY:

AUD - Monetary Policy Meeting Minutes at 11.30am

Senior FX Manager

Compass Markets

Contact Patrick for a quote on 0431 278 632.

*Above rates are indicative wholesale rates and intended as a guide only. Commentary above is my opinion and should not be construed as financial advice. I recommend you seek professional advice before doing anything of a financial nature.