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Currency Market Analysis

Sep 17, 2021 | Currency Market Analysis

Global Themes

AUD hit as US shares fall again

• US shares hit AUD sentiment
• Local jobs number drop sharply
• US consumer confidence due

Aussie pressured by job losses

The sell-off in US sharemarkets continued overnight, with the benchmark Dow Jones falling 0.2%.

The AUD was pressured as a result.

US shares have fallen in eight out of eleven sessions so far in September.

The Aussie was also hit after a massive 146k jobs were lost in Australia’s August jobs report.

The unemployment rate fell from 4.6% to 4.5% due to a large drop in the participation rate.

Aussie hit

The AUDUSD fell 0.6%.

The risk sensitive AUDJPY was also pressured with the pair down 0.6%.

The AUDEUR was down 0.2% while the AUDGBP fell 0.6%.

US confidence in focus

Today, UK retail sales and EU inflation numbers are both released.

The headline release today is US consumer confidence at 10.30pm AEST.

Last night, US retail sales surprised to the upside, helping the USD higher.

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