MARKET UPDATE 05-Feb-19

The U-S dollar held on to recent gains against its major peers. This was supported by a recovery in investor risk appetite of the back of fairly positive Federal Reserve comments and optimism over recently concluded U.S.-China trade talks.

However, trading was likely to remain subdued in Asia with many markets across the region closed for Lunar New Year holidays.

Meanwhile, data released today for Australia showed that retail sales fell 0.4 percent in December, the worst monthly outcome in a year.

For the fourth quarter as a whole, sales were up a mere 0.1 percent in inflation adjusted terms, and followed a very sedate 0.2 percent gain the previous quarter.

Later tonight, we have the US non-manufacturing PMI for Jan, we’ll wait and see how this will impact our Fiji dollar basket in the morning.

FX Rates 05.02.19

 

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