MARKET UPDATE 02-Aug-18

The US dollar held onto most of its gains this morning after the Federal Reserve gave an upbeat assessment of the world’s biggest economy and stayed on course to gradually lift interest rates.

The US economic growth has been rising strongly and the job market has also continued to strengthen.

Meanwhile, Australia’s June trade surplus showed a bigger-than expected increase to 1.873 billion. Their exports posted a strong increase by 3 percent while imports fell by 1 percent.

In other news, the British pound changed a little ahead of the Bank of England’s policy meeting later tonight.

Market is widely expecting interest rates to be raised for the second time since the global financial crisis. And it will be interesting to see how this impacts the market, if any at all………

FX Rates 02.07.18

 

 

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