Open today 0.6411
Yesterday’s Range 0.6343 / 0.6415
Open today 0.6022
Yesterday’s Range 0.5961 / 0.6028
Yesterday’s Range 0.6013 / 0.6070
Yesterday’s Range 4.6287 / 4.6780
Yesterday’s Range 1.0624 / 1.0693
Yesterday’s Range 0.5200 / 0.5241
The AUDUSD and risk assets, gained as geopolitical concerns faded with the former advancing 0.4% into the open for Asia today. Reports that Hamas is open to truce discussions with Israel, added confidence to equity markets and dragged risk assets along with it. AUDJPY flows have been a key indicators of the risk tension, trading flat for the day after a dip in early Asia in response to the weekend attacks. Today, in Australia, we get the release of the Westpac Consumer Confidence data for October and the NAB Business survey. Look for the AUDUSD to remain firm should these results err positive and Asia equities find a lift. Next resistance will find supply emerge at 0.6430 to 0.6460 with support back to 0.6370’s initially.
Wall Street managed gains for the day, with energy stocks leading the way as Oil prices jumped higher. The DJI was up just +0.6%, the S&P500 was up +0.6% and the Nasdaq gained +0.4% for the session. The Australian share market is expected to open higher today, tracking Wall Street and benefiting from higher energy prices and a drive to lustre metals.
Gold prices jumped 1.6% higher as investors migrated to safer haven assets in response to the geopolitical tensions in the Middle east.
Copper prices added to last weeks gains closing up 0.6% on the LME. Iron Ore futures fell on negative steel mill margins as uncertainty weighed on growth sentiment out of China.
Brent Crude Oil prices jumped over 4% higher as tensions between Israel and Palestine’s Islamist group Hamas ignited concerns for Middle East oil supply.