MARKET UPDATE 30-Aug-18

Asian stocks rose this morning as Wall Street hits record high. This was in the hope that the current trade negotiations may lead to a further easing of global trade tensions.

Meanwhile second quarter economic growth for the U.S. was a bit stronger than expected. It’s the best performance in nearly four years. GDP increased at a 4.2 percent annualized rate putting the economy on track to hit the goal of 3 percent annual growth.

Closer to home, Australia’s capital expenditure unexpectedly declined in the second quarter by 2.5percent. While, New Zealand’s business confidence reading dipped to 50.3 in August.

FX Rates 30.08.18

 

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