An update in our economic calendar. The New Zealand dollar declined by 1.6% after The Reserve Bank of New Zealand decided to maintain its official cash rate at 1.75% as expected.
Meanwhile, Oil has surged to above US$47 a barrel after a sharp drop in U.S crude inventories by 4.3 million. This helped fuel a modest rise on Wall Street, the S&P 500 was up 0.06% and the Nasdaq Composite gained 0.14%.
In other news, South Korea’s new liberal President Moon Jae-in was sworn in on Wednesday and he has vowed to address North Korea’s nuclear ambitions and sooth tensions with the United States and China.
North Korea’s ambassador to the UK in his interview with Sky News said that his country will go ahead with its sixth nuclear test at the time and place of its leader’s choosing.