Forex market was riding mixed on sentiments today. Overnight, the International Monetary Fund had cut its 2019 and 2020 global growth forecasts.
In its World Economic Outlook report, the IMF had cited a bigger-than-expected slowdown in China and the Eurozone… and said that failure to resolve trade tensions could further destabilize a slowing global economy.
The slowdown in China’s economy to 28-year lows revived investor concerns over global growth and supported safe-haven currencies.
However, this affected our com-mo-dity sensitive, the Aussie and Kiwi counterparts. The global economy is now predicted to grow at 3.5 percent in 2019 and 3.6 percent in 2020.