MARKET UPDATE 12-Dec-18

The Asian stock markets edged ahead this morning as U.S. President Donald trump sounded upbeat about a trade deal with China.

The US dollar holding near a one-month high against its peers today was supported by a rebound in U.S. yields, and weakness of the British pound as its battering from uncertainty about Brexit continued.

Closer to home, macro data for the Aussie domestic economy continues to disappoint, with Westpac’s Consumer Confidence reading for December sliding to just 0.1%, from the previous month’s 2.8%. And when taken with Tuesday’s slumping Housing Price Index data, the Aussie’s lack of meaningful momentum is less than surprising.

Later on tonight, we’ll have the European Union’s Interest rate decision followed by their monetary policy statement and US employment data.

We’ll wait and see how these data releases will impact our Fiji dollar basket in the morning.

FX Rates 12.12.18

 

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