MARKET UPDATE 28-Sep-18

Sentiments were up beat in the forex market today. The US Dollar stood tall against most of its peers holding near nine-month high.

Their macroeconomic data released this morning reinforced positive views about the US economy and backed their Federal Reserve’s rate hike decision. According to the GDP numbers released, the American economy expanded at a strong pace in the second quarter, rising at an annualized rate of 4.2%.

Meanwhile, their Personal Consumers Expenditure for August rose by 0.1 percent from the previous 1.9 percent.

Next week will be interesting as we start a new month with Australia’s Interest Rate Decision.

FX Rates 28.09.18

 

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