MARKET UPDATE 11-Jul-18

The Japanese Yen and Australian dollar stumbled after Washington announced a plan to slap tariffs on $200 billion of imports from China, escalating tensions between the world’s two biggest economies.

US Trade Representative said that the United States would impose tariffs of 10 percent on additional Chinese imports worth $200 billion, just days after its tariffs on $34 billion Chinese goods took effect.

A measure of Australian consumer sentiment jumped to its highest since late 2013 in July, amid growing optimism on the economic outlook and on the prospect of future promised tax cuts.

Later tonight Canadian Monetary policy report and Interest rate decision announcements, followed by a speech from the Bank of England’s Governor Carney.

FX Rates 11.07.18

 

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