MARKET UPDATE 14-Sep-18

The US inflation data was weaker than-expected which further burdened the currency. However, prospects for U.S.-China trade talks on the horizon and action by Turkey to support its currency, all made for a largely positive tone for markets today.

The European Central Bank kept their monetary policy unchanged as expected. But the ECB President Mario Draghi expressed confidence on wage growth and the outlook for inflation.

With the Aussie falling, our investors who have had exposure in the US markets are getting comfort in switching their holdings back into Australian dollars.

Meanwhile, manufacturing activity in New Zealand grew in August, ending a three-month streak of declines.

FX Rates 14.09.18

 

 

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