MARKET UPDATE 07-Feb-19

In forex market….the New Zealand dollar lost some ground after data released showed unemployment, job gains and wages growth all missed forecast. This soft labor market data got the traders worried of another weak economic print in the December quarter.

This is particularly important given that the Reserve Bank of New Zealand will holds its first policy meeting of the year next week…and markets are already betting for a stimulative approach.

Meanwhile, the U-S dollar enjoyed quite a bit of boost of the back of upbeat trade data and weaker Euro.

The U.S. trade deficit fell for the first time in six months to $49.3 billion in November. While the Euro had lost grounds amid concerns that the European Central Bank will keep monetary policy loose due to weaker-than-expected growth and low inflation in the common area.

FX Rates 07.02.19

 

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