Market update 01-03-17

Looking at our economic calendar for this week.
Yesterday, New Zealand’s trade balance widened further to a negative $285 million from negative $36 million for the month of January. Their business confidence for the month of February decreased from 21.7 to 16.6.
As for Australia, they released their gross domestic product figure for the fourth quarter and it rose to 2.4 percent from 1.8 percent.
Meanwhile, the United States released their gross domestic product price index for the fourth quarter and it decreased to 2 percent from 2.1 percent previously.
Their consumer confidence figure for the month of February, however, increased to 114.8 from an expected 110.9.
Furthermore, President Donald Trump delivered his speech to Congress today. Financial markets were waiting for his speech, for they hope it would give them an update on his policy plans, after the impetus from the promise of tax cuts ran out of steam.
Fed Chair Janet Yellen will be delivering her speech on Friday and she may help investors understand what the Fed is thinking in regards to interest rate hikes.

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