MARKET UPDATE 07-Aug-18

Concerns about Britain’s plan to leave the Euro zone sent the pound to an 11-week low against the greenback yesterday, while US-China trade tensions helped boost the US currency.

The new trading week sees the Aussie dollar drifting on a lack of bullish sentiment. The Reserve Bank of Australia is set to release their latest rate statement, though with the Australian central bank widely expected to remain on hold on interest rates until the later quarters of 2019.

Later in the week, we have key data releases which includes, Reserve Bank of New Zealand’s Policy statement and Interest rate decision, US employment data for July and Britain’s Gross Domestic Product.

The main US economic focus this week will be Friday’s consumer price inflation report for July, which is expected to show a 0.2 percent increase in core inflation in the month.

FX Rates 07.08.18

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