MARKET UPDATE 18 – MAY – 17

Taking a look at our economic calendar, Australia saw a strengthening of its currency in today’s intra-day trading due to strong employment change figures for the month of April
It increased to 37.4K when it was expected to be at 5K.
This means it was more expensive for importers to pay for their imports to Australia and those exchange their money to go to Australia later on in the day.
The Japanese Yen opened stronger today from yesterday by 95pts as it grows at the fastest pace in a year in the first quarter to mark the longest period of expansion in a decade.
With a volatile market pressing down on risk appetite for overseas investors. They are looking towards Japan as they are considered a safe haven currency.

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