MARKET UPDATE 19-Jul-18

The US dollar held firm against major currencies this morning, supported by bullish comments from the US Federal Reserve Chairman. In his testimony yesterday, he maintained a positive tone for the economic outlook and downplayed any risk to the US economy amid trade conflicts.

Australian employment surged by the most this year in June as firms took on more full time workers. However, their jobless rate held steady at 5.4 percent as more people entered the labour force.

The core inflation for the Euro Zone slipped to 0.9% while headline inflation remained at 2.0%.

In other news, in its latest Asian Development Outlook report, the ADB kept its 2018 and 2019 economic growth estimates for developing Asia region at 6.0 and 5.9 percent, respectively.

FX Rates 19.07.18

 

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