MARKET UPDATE 16-Aug-18

The forex market today was better placed on the Lira’s recovery. Markets have been rocked over the past week as turmoil in Turkey weighed on sentiment across many emerging- and developed-nation assets. The Lira stabilized – up about 7%, but other emerging currencies suffered.

On the economic front… third quarter data for U-S released this morning portrayed a solid growth picture for US as their retail sales rose 0.5% in July.

Meanwhile, Australian Bureau of Statistics released Australia’s latest Unemployment Rate and Employment Change figures for July. Their jobless rate dipped to the lowest level in 6 years at 5.3 percent. While the Participation Rate eased to 65.5%.

FX Rates 16.08.18

 

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