MARKET UPDATE 02-Jan-2019

Equities around the world rose on Monday as possible progress in resolving the trade dispute between the United States and China engendered some investor optimism in what has been a punishing end of year for markets.
The rise in U.S. equities mirrored that in Asian and European markets, which were also kept up by trade optimism.
Aussie dollar has been lifted by a slump in the greenback, despite the surprise to November’s Chicago PMI that had initially sent yields in the US higher.
The Kiwi bird has been trading in tandem to the performance of global equities and has managed to find support on a slide in the dollar into year-end with the rate complex weighing heavily for the greenback. September quarter GDP climbed by 0.3%, underwhelming all expectations while annual growth eased from 3.2% to 2.6% for the year.
Looking ahead, we move into the US nonfarm payrolls event at the end of the week, but on a domestic front, December Markit Manufacturing PMI will be out tonight.

FBC FX Rates 02.01.19(1)

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