Global Themes


Aussie closes at one-month highs as commodities come back

A big comeback in commodity markets boosted the AUD overnight with the AUDUSD finishing at the highest closing level since 15 March.

Crude oil was up 2.7% as it hit three-year highs while a sharp jump in copper and iron ore also helped the Aussie.

Global sentiment was stronger across markets with most US sharemarkets higher while US two-year bond yields hit the highest level since 2008.

NZ inflation falls

The AUDUSD was up 0.2%.

The Aussie was higher in most other markets.

The AUDEUR was up 0.2% while the AUDJPY climbed 0.5%.

The AUDNZD was up 0.4%. This morning, New Zealand annual inflation came in at 1.1%, a sharp drop over the quarter. The result makes any NZ rate hike a distant prospect. The NZD was pressured.

AU jobs

The Australian dollar will be driven today by the local jobs announcement due at 11.30am AEST.

The market is expecting 20k new jobs to be created with the unemployment rate projected to fall to 5.5%.

A stronger number could see the Aussie press higher.

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