MARKET UPDATE 01-Feb-19

The Australian and New Zealand dollars held steady versus the greenback today, as the Federal Reserve’s more dovish stance and improved prospects for a U.S.-Sino trade deal boosted investor risk appetite.

Markets would be focusing on U.S. job data due later tonight. Analysts note that any weakness in the labour market and a fall in wage inflation, would only reinforce the dovish outlook for the dollar this year.

The Euro currency has not managed to gain despite broader dollar weakness, as growth and inflation in the euro zone remain weaker than expected. Meanwhile, the British pound is expected to remain volatile in the coming weeks.

FX Rates 01.02.19

 

 

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