MARKET UPDATE 17-Apr-18

The markets seem to be less concerned over Syria and instead preferred to concentrate on macroeconomic and Central Bank outlooks. On Wall Street, the focus was on corporate earnings.

The slight beat on the headline Retail Sales report was not enough to stop the slide of the US Dollar this morning….Their Retail Sales for March came in better-than-expected at 0.6% against 0.4% expected. However, their Empire State Manufacturing Index fell to 15.8 in April while analysts were forecasting 18.6.

The minutes released by the Reserve Bank of Australia showed the policymakers see little reason for a near-term rate move and cited high household debt and China debt as a risk to the Australian economy.

Meanwhile, China’s economy grew 6.8 percent in the first quarter of 2018 marking the third-straight quarter of 6.8 percent growth for the world’s second-largest economy.

And that’s all topping the headlines for now…..

FX Rates 17.04.18

 

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