MARKET UPDATE 26-Feb-19

The Aussie and Kiwi consolidated gains today amid growing signs of progress in US-China trade talks. The positive sentiments around trade talks were taken as a good sign for the Chinese economy and com-mo-dity prices, giving a little boost to our neighbouring counterparts

Meanwhile, Traders are eyeing a slate of data due in the second half of the week for fresh cues on the health of the global economy. Market is particularly eager to hear about the US Federal Reserve’s latest view on the economy and monetary policy. Fed Chair Jerome Powell is scheduled to provide semi-annual testimony on Capitol Hill, starting tomorrow.

And in other news, Sterling jumped to its highest against the U-S dollar in close to four weeks. This came after reports indicated that British Prime Minister Theresa May was considering delaying a deadline on Brexit.

FX Rates – 26.02.19

 

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