MARKET UPDATE 09-Aug-18

New Zealand’s central bank unexpectedly committed to keep interest rates at record lows, through to 2020 on disappointing economic activity. This is a dovish turn that caught markets off-guard and sent the local currency skidding.

The Aussie market remains offered, despite a better-than-expected China inflation numbers, possibly due to escalating US-China trade tensions.

US and China have imposed a new wave of tariffs in the last 24 hours. According to Reuters, the tit-for-tat measures mean, levies on $50billion worth of goods moving each way between the two countries.

FX Rates 09.08.18

 

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