MARKET UPDATE 08-Jan-19

The US dollar moved against a basket of currencies, pressured by growing expectations the Federal Reserve will either pause or halt its interest rate hike cycle. Stocks on Wall Street were trading higher while U.S. Treasury prices were lower.

Asian shares rose for the third straight session today as investors bet that Washington and Beijing are inching toward a trade deal and that U.S. Federal Reserve would halt its tightening if economic growth slows further.

On Wall Street, the S&P 500 gained 0.7 percent yesterday following 3.4 percent surge on Friday.

Closer to home, Australian Trade Balance figures for November slipped below expectations once again, printing at 1.925 billion versus the forecast 2.175 billion. Exports held steady at just 1 percent month-over-month, while imports growth declined to 2 percent from October’s 3 percent.

FX Rates – 08.01.19

 

 

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