Open today 0.6329
Yesterday’s Range 0.6296 / 0.6356
Open today 0.5849
Yesterday’s Range 0.5816 / 0.5866
Yesterday’s Range 1.0794 / 1.0845
Yesterday’s Range 0.5974 / 0.6019
Yesterday’s Range 4.6109 / 4.6592
Yesterday’s Range 0.5188 / 0.5223
The AUDUSD deteriorated to 0.63-cents, after a disappointing release of the Employment numbers for September, which showed a jobs growth of just 6.7k against 20k expected, while the unemployment rate eased to 3.6% against 3.7% expected. Of significance was the shift from full-time jobs to part-time. So as we suggested the disappointment has reversed the weekly gains back to the familiar lows just behind 0.6300. Overnight trading however has seen a weaker US-dollar and a lift in commodity prices offering the AUD some favour for recovery and opening the Asia session around 0.6330. With all the volatility and uncertainty across the macro scene, any gains from here should see traders selling into the strength all the way to 0.64-cents while the negative sentiment weighs on the risk currencies and suggest there could be more downside to come. Look for support at 0.6290/00 zone on any weakness, with resistance persisting at the old pivot point of 0.64-cents. Day traders will continue to sell strength on any intra-day moves.
Wall Street stocks continue their slide lower, as Fed Chairman Powell offers little comfort for a return to risk in his comments today, plus the escalating conflict in the Middle East is keeping investors nervous amidst possible oil supply concerns. The DJI dropped -0.6%, the S&P500 ended the session lower by -0.9% and the Nasdaq closed lower by -1% at the close. Australian shares are looking to open lower today, tracking Wall Street moves and also monitoring rising tensions in the Middle East conflict.
Gold prices pushed higher on Thursday as the threat of escalation in the Middle East conflict draws investor to safer have assets and Fed Chair Jerome Powell attempts to ease expectations of another rate hike for November in his remarks.
Copper prices added another session of gains, as the US-dollar trimmed its recent strength. Iron Ore prices on the Dalian closed higher for the day.
Brent Crude Oil prices added to recent gains again, as the Gaza conflict continues to instill concerns over global supplies, though the lifting of export sanctions on Venezuelan supply is likely to ease some of this pressure, but not for a couple of months. Brent December futures closed at $92.38/bbl.
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