Aussie Dollar Slides

au.investing.com/analysis/aussie-dollar-slides-200198262

By William OLoughlin | Jul 11, 2018 10:48

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Originally published by Rivkin Securities

Another strong session for US stocks saw the Dow Jones climb another 0.6% although the Nasdaq 100 only barely managed a gain. Several of the big tech names, such as Facebook (NASDAQ:FB), Netflix (NASDAQ:NFLX) and Apple (NASDAQ:AAPL) failed to rally which may have kept a lid on the index. The ASX 200 opened higher yesterday in response to strong leads from the US the night before however we failed to hold those gains as the index faded throughout the day. ASX 200 futures are up 16 points this morning.

The Aussie dollar resumed its slide, particularly in the past couple of hours, and has fallen back to US$0.742. This represents weakness in the Aussie dollar rather than strength in the US dollar as the US dollar index was close to flat for the night, currently at 94.15. The cause of the decline seems to be the announcement of a list of $200bn in additional tariffs that the US will impose on Chinese imports. As a result of the weak Aussie dollar, commodity prices, such as gold and oil, spiked higher in Aussie dollar terms.

Oil prices continue to be strong as shale production in the US has been flat for the past three weeks in a row. Inventories have also resumed declining after a period of several months of builds. Seasonally, this is a period of inventory drawdowns as gasoline demand increases for the northern hemisphere summer driving season.

Data Releases:

- US PPI 10:30pm AEST

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Central Banks

Interest Rates

Next Meeting

RBA

4.10%

Apr 01, 2025

BOE

4.50%

Mar 20, 2025

ECB

2.90%

Mar 06, 2025

FED

4.50%

Mar 19, 2025

SNB

0.50%

Mar 20, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

S&P/ASX 200	8,268.20	+27.50	+0.33%
ASX 200 Futures	8,242.0	+33.5	+0.41%
ASX All Ordinaries	8,506.10	+28.80	+0.34%
US 500	5,986.2	+30.0	+0.50%
Dow Jones	43,433.12	-188.04	-0.43%
China A50 Futures	13,394.0	+121.0	+0.91%
Dollar Index	106.520	+0.191	+0.18%

Crude Oil WTI	69.02	+0.40	+0.58%
Natural Gas	3.990	+0.031	+0.78%
Gold	2,899.59	-31.01	-1.06%
Silver	32.053	-0.219	-0.68%
Copper	4.6035	+0.0170	+0.37%
US Sugar #11	19.65	+0.06	+0.31%
US Coffee C	375.20	-0.70	-0.19%

Australia 10Y	4.414	+0.068	+1.56%
Australia 5Y	3.941	+0.044	+1.13%
New Zealand 10Y	4.605	+0.001	+0.00%
U.S. 10Y	4.304	+0.055	+1.29%
Japan 10Y	1.383	-0.009	-0.65%
China 10Y	1.785	+0.018	+1.02%
Singapore 10Y	2.773	-0.020	-0.72%

CSL	260.29	-4.53	-1.71%
Woolworths	30.700	+0.100	+0.33%
ANZ Holdings	29.890	+0.140	+0.47%
Commonwealth Bank Australia	156.290	+0.030	+0.02%
Telstra Group	4.110	+0.030	+0.74%
National Australia Bank	35.450	-0.080	-0.23%
BHP Group Ltd	40.020	+0.310	+0.78%

Aussie Dollar Slides

Data Releases:

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