Weekly FX Update
7 April 2026
What’s Driving Markets This Week
- Oil still elevated — keeping inflation concerns alive and limiting central bank flexibility
- US dollar remains firm — supported by resilient economic data
- Markets steady but cautious — no major shocks, but sentiment remains fragile
What’s Happening
Markets are starting the week relatively stable, with no major surprises over the weekend. However, the broader themes remain unchanged.
Oil prices are still elevated, which continues to support inflation globally and keeps pressure on central banks. This is helping the US dollar stay strong.
The Australian dollar is holding around the 0.70 level, but upside remains limited as global uncertainty and USD strength cap gains.
Overall, markets are in a wait-and-see mode, with traders focusing on upcoming US inflation data and central bank signals.
Key Exchange Rates (approx.)
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Commodities Snapshot
- Oil: around $95–$100/bbl
• Gold: around $5,050–$5,150/oz
• Iron Ore: around $100/t
Key Economic Events This Week (Sydney Time)
| Day | Date | Time | Event | Why It Matters |
| Wednesday | 9 Apr | 11:30 PM | US CPI (Inflation) | Key driver for USD direction |
| Thursday | 10 Apr | 11:30 PM | US Jobless Claims | Labour market health |
| Friday | 11 Apr | 11:30 PM | US PPI | Inflation at producer level |
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AUD Outlook
The Australian dollar is expected to trade within a 0.69 – 0.71 range this week.
Key drivers:
- US inflation data
• Oil price movements
• Global risk sentiment
Quick Take (for busy readers)
👉 USD strong
👉 AUD stable but capped
👉 Focus this week: US CPI