Currency Update - Thursday 30th December 2019

AUD

Markets have remained quiet as we finish up the year however
optimism has remained strong and has helped the Australian Dollar stay strong.
With a falling US dollar index, the riskier currencies such as AUD and NZD have
outperformed their G10 peers in the recent bull run. A quiet day ahead with
little on the data calendar, however Chinese data will break the
silence tomorrow with Manufacturing and Non-Manufacturing PMIs.

USD

The Australian Dollar has broken out higher yet again against
the greenback with AUD/USD knocking on the door at 0.70 for the first time
in 6 months. All three major US indices closed at record highs last night, led
by NASDAQ’s 0.78% jump that helped it to break out above the 9,000 point mark.
The USD softened as the offshore session progressed as the strength of US
equities encouraged traders to take profit. Chicago PMI due for release
tonight.

EUR

The Australian Dollar has pushed higher against the Euro with
markets trading at 0.6240 at time of writing. European equities opened
positively after the majority of Asian bourses continued the recent strong run.
News wise it was rather quiet, although the EU’s Von Der Leyen said that any
Brexit transition may not be possible by the end of 2020. Little to report with
quiet day ahead.

GBP

The Australian Dollar has continued to move sideways against
Pound Sterling in the absence of any news or events. Markets are trading at
0.5328 at time of writing which is roughly where we were a week ago. Nothing
else on the calendar for today so expect more of the same.

NZD

The Australian Dollar and Kiwi Dollar have both benefitted from
the recent bull run but against one another we’ve been running in parallel with
markets trading at 1.042 at time of writing. No new data to report on nor any
new data set for today.