MARKET UPDATE 05-Mar-19

The U-S dollar held near a two-weeks high against its key rivals today. The positive boost was underpinned by a resilient economy and a flagging euro ahead of an upcoming European Central Bank policy meeting. The ECB is facing growing pressure to address how to protect the euro zone economy from a protracted slowdown.

Meanwhile, China lowered its official goal for economic growth in 2019 to a range of 6 to 6.5 percent. Policymakers seek to pull off a gradual deceleration while dealing with a debt legacy and the U.S. standoff.

And closer to home, the immediate focus was on the outcome of the Reserve Bank of Australia’s March policy meeting today. The Aussie had suffered quite a bit last month after the RBA stepped back in its policy measures indicating the next move in rates could just as well be down as up.

FX Rates – 05.03.19

 

 

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