MARKET UPDATE 06-Jul-18

Major currencies trod water early this morning as investor caution prevailed ahead of Washington’s implementation of its threatened tariffs on Chinese goods, and the US jobs report due later in the day. China is Australia’s single biggest export market and the world’s largest buyer of commodities, making the Australian economy particularly vulnerable to any slowdown there. Analysts also cut their forecast for the New Zealand dollar in the short term, but again predicted and eventual recovery. Beyond trade issues, investors look to US jobs data for cues.

FX – 06.07.18

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