A brief update on our local market today;
The US dollar recovered ground this morning, drawing relief from positive labour market data. Traders await announcement as most countries might be exempted from the planned US import tariffs on steel and aluminium.
Australian Import and Export figures for Jan were released this morning at -2% vs previous of 6% and 4% vs previous of 2% respectively. This resulted in their Trade Balances of 1.055 million vs previous of -1.358 million.
Also we have major events outlined for the rest of the week for our major trading currencies and will see how market reacts to the releases.
And that’s a wrap…..Thank you.