MARKET UPDATE 25-May-18

The US dollar was pretty heavy on the news this morning. Their new applications for unemployment benefits increased more than expected last week. But, it remained below a level consistent with a healthy labour market.

The yield on their benchmark 10-year Treasury note fell to 2.96% after Fed’s Minutes showed a tolerant stance to above 2.0% inflation.

But…the losing momentum of the US dollar gave some boost to our Aussie Kiwi counterparts.

Meanwhile, Asian stocks opened lower after the cancellation of the U.S.-North Korea summit, which sparked a move to safe-haven assets. U.S. stocks closed lower despite a late rally, though S&P 500 futures edged higher.

FX Rates 24.05.18

 

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