MARKET UPDATE 02 – MAY – 17

Looking at our Global Economic Calendar, The US dollar weakened from yesterday of the back of some underperforming U.S. factory and inflation data.
This did not boost expectations for a June interest rate hike from the US Federal Reserves.
Oil slipped 1 percent as rising crude output in Libya and the United States countered OPEC-led production cuts aimed at clearing a supply gut.
A little closer to home, Australia has their interest rate announcements which is expected to stay at 1.5%.
Later on tonight The Australian government will release its Annual Budget Report.
New Zealand is expected to release its unemployment rate and participation rate tomorrow, expected to stay at 5.2% and 70.5% respectively.

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