MARKET UPDATE 08-May-18

Let’s see what’s making headlines in the financial markets.

Australia’s centre-right government is expected to announce hefty health and infrastructure spending and deliver some voter-sweetening tax cuts in their annual budget today.

They also released their monthly Retail sales data which was at 0.6% an increase of 0.5 from the previous release.

The Kiwi has been mostly flat from yesterday with markets subdued due to holidays in the UK, and London traders out enjoying a bank holiday Monday for early May.

The US Consumer Credit change data released last night indicated a fall in consumer borrowing by US$2.02 billion from the previous $13.64billion.

But later tonight is the US Federal’s Speech followed by the Australian Budget Release.

So we will wait to see how these announcements will impact our Fiji dollar currency basket in the morning.

FX Rates – 08.05.18

 

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