MARKET UPDATE 15-Mar-19

U.S. data last night underscored growing pressure on the U.S. economy and kept the US dollar in check. The number of Americans filing applications for unemployment benefits increased more than expected last week while new home sales fell more than expected in January.

The British pound paused for a breath this morning after the UK parliament voted overwhelmingly to seek a delay in Britain’s exit from the European Union.

The Japanese Yen slipped to a one-week low yesterday partly on speculation that the Bank Of Japan could make a stronger show of its readiness to ease policy further at its review ending later tonight.

Closer to home, business New Zealand PMI increased more than previous 53.1 to second best in past nine-month figure of 53.7. On the other hand, visitor arrivals rose to 5.3% from 3.1% previous growth on a yearly basis during the February month.

Market participants may now look forward to developments surrounding the US-China trade deal and second-tier data from the US for further direction.

FX Rates 15.03.19

 

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