MARKET UPDATE 14-Mar-19

The US dollar edged back from a nine-day low early this morning, as a big rally by the pound made on Brexit relief tapered off and gave the greenback some reprieve.

Closer to home, traders gave more importance to the retail sales outcome over the industrial production weakness, as the National Bureau of Statistics of China released its data today.

The industrial production weakened to 5.3% over the forecasted 5.5% and previous 5.7% whereas retail sales matched previous growth of 8.2% versus 8.1% market consensus.

Earlier during the day, the New Zealand dollar gained traction as reports from Bank of New Zealand predicted no rate cuts from their Reserve Bank.

Later tonight we’ll have the US jobless data and we’ll see how this impacts the Fiji dollar basket in the morning.

FX Rates – 14.03.19

 

 

 

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