MARKET UPDATE 17-Oct-18

Forex market today was generally upbeat given a partial recovery in European and US equities. Although European market was fairly quiet, the US data was on point and once again positive. This should keep the US dollar in good shape for now.

Next up for the US is their Federal Open Market Committee meeting minutes. In the background, traders are still dealing with continuing U.S.-China trade war rhetoric and geopolitical strains.

On the macro-economic data front, New Zealand Global dairy prices fell for the fifth time in a row dipping 0.3 percent.

Meanwhile, in Australia, their Reserve Bank’s deputy governor said that their jobless rate might need to decline further to generate faster wage growth.

FX Rates- 17.10.18

 

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