MARKET UPDATE 03-Oct-18

There were mixed concerns in the market today. Political disputes over Italy’s budget plan weighed on the market sentiments. Italy’s draft budget plan will pledge to cut the deficit to 2 percent in 2021, reversing the government’s initial proposal.

However, there was a better risk mood on the Wall Sreet. The US dollar gave back some ground despite the Federal Reserve Chair Jerome Powell delivered an upbeat speech.

The Australian dollar fell briefly as weak building data fanned concerns of a slowdown. New Zealand’s Global dairy prices fell for the fourth time as ramped-up supply outpaced robust demand.

Investors would remain on the edge this week with the market impact of European politics and emerging market strains still high on the agenda.

FX Rates – 03.10.18

 

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