MARKET UPDATE 13-Jul-18

The US dollar held firm this morning which was boosted by expectations from US inflation pick up, although concerns about an escalation in US-China trade tensions limited the greenback’s gains.

Manufacturing activity in New Zealand expanded at the slowest rate in six months in June. The Business New Zealand’s seasonally adjusted PMI fell to 52.8 from 54.5 the previous month.

Australian shares are set to rise today, backed by robust commodity prices as well as a technology-led rally on Wall Street, with investors looking past recent trade war concerns to earnings optimism in the United States.

FX Rates 13.07.18

 

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