"Average" inflation data & more Trump turmoil has US$ weakening further

March 14, 2018

Finport Currency Brief - Courtesy of Compass Global Markets.

 

Good morning all;

AUDUSD: US inflation data came in as expected and although higher over the month, it wasn't fantastic and didn't spark thoughts of any additional US interest rate hikes, than have already been priced in. News that US President Trump sacked their Secretary of State also gave the US$ a knock and this pair rallied again, although has given up most of those gains as the market appeared happy with the replacement. Looking ahead we have just Chinese Industrial Production and US Retail Sales as the highlights for the rest of the week, which should mean price action remains stable and continue to test if not break 0.79c short term. 

 

AUDEUR: Half of the recent gains here have been eroded as the market is unwilling to take us too far out of our comfort zone, ahead of European Central Bank Presidents speech tomorrow night in which he is expected to confirm interest rates are to stay low for longer. This should push the pair back to my 0.65c target. 

 

AUDGBP: A solid dumping here as the UK Budget Release saw a revised pick up in the UK's growth forecast and a move to their target inflation level within the year. Positive reports on PM May's performance and bout of political stability is also helping the Pound. There is no further UK data until next week so those selling A$ can target 0.5650 as a "decent" level for now, although with all this good news now priced in I favour a push past that in the weeks to come. 

 

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468 


AUDUSD   

AUDEUR

AUDGBP 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Please reload

Featured Posts

I'm busy working on my blog posts. Watch this space!

Please reload

Recent Posts

February 9, 2020

Please reload

Archive
Please reload

Search By Tags
Please reload

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

Free Call: 1800 FINPORT (346767)   Email: info@finport.com

Finport Finance Pty Limited ACN 624 778 123.

Finport Trade Finance Pty Limited ACN 606 669 505.

 

Business Address: Suite 105, 20A Danks Street, Waterloo, NSW 2017

Registered Office: Level 11, 1 York Street, Sydney NSW 2000

Mailing Address: PO Box 2289, Taren Point NSW 2229

 

Finport makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website.

Website Terms of Use     Disclaimer    Privacy Policy

  • Facebook Social Icon