MARKET UPDATE 06-Sp-18

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Global equities remained under pressure with stocks in Asia down for the sixth day. Investor confidence is subdued amid emerging market turmoil and concerns over the U.S.-China trade conflict.

Over-night on Wall Street, the S&P 500 lost 0.3 percent and the Nasdaq composite dropped 1.2 percent. The Dow Jones was a rare bright spot, up 0.1 percent.

The U-S dollar, which is considered a safe haven at times of turmoil, because of its status as the world’s reserve currency, had generally benefitted from these trade uncertainties. It has gained 8 percent since end of March with currencies in emerging markets taking a hit.

Closer to home, Australia’s trade surplus narrowed marginally in July. The surplus fell to $1.55 billion in seasonally adjusted terms. Their exports fell by 1% while imports held steady.

FX Rates – 06.09.18

 

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