MARKET UPDATE 01-Nov-18

Australia’s September trade surplus came in slightly above $3 million today, helped by rising export prices for iron ore, minerals and fuel. Their total Exports were up by one percent however, a one per cent drop in imports was the surprising factor.

Meanwhile, the US Dollar is trading broadly higher today, supported by ADP national employment report. The data showed that US private sector payrolls increased by the most in eight months in October, confirming that the economy continues to grow at a relatively robust rate.

In other news, Eurozone’s CPI accelerated to an annual 2.2% in October with their unemployment rate unchanged at 8.1% in September, last night. And to make further from these releases, the traders would closely watch the Bank of England’s monetary policy decision early tomorrow morning to determine further the outlook for the UK economy.

FX Rates – 01.11.18

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