img NZ
img AUS
img CDN
img US
Call us now: 0800 00 56 17
imgOnline Dealing Login

USD Soars Ahead on US Private Employment Report

Published November 1, 2018

The antipodean currencies were the big underperformers overnight with both opening around 0.5% down on the USD. Positive corporate earnings in the US and Europe helped global stock markets surge overnight bringing some relief to anxious investors.

US Wages Grow Faster Than Forecasted

The USD surged on better than expected ADP private sector job growth in the third quarter, spiking to 227k new jobs in October, topping expectations of 189k. The yield on US 10-year Treasuries rose to 3.15% after the announcement and comes ahead of the all-important non-farm payrolls data due out on Friday, which the Federal Reserve watch closely for their rate path plan.

Australian inflation softens in Q3

Australian annual inflation came in line with expectations at 1.9%, and the quarter at 0.4% q/q, however, the annual core inflation averaged at 1.75% y/y missing expectations of 1.9%. The AUD dipped 0.3% on the announcement as core inflation continues to undershoot the RBA’s target range of 2-3%, supporting the RBA to keep rates on hold at the record low of 1.5%

Brexit Minister Raab comments: UK could get divorce deal done by 21 November

UK Brexit Secretary of State Dominic Raab announced that negotiators could get a deal finalized on the terms of its departure from the EU by 21 November. The Pound surged higher on the positive news, however, has since pared back most of these gains as Raabs department has since backtracked on his comments stating, “There is no set date for the EU negotiations to conclude”. November 21st was the date offered by the Chair of the Select Committee for (Raab) to give evidence”.

UK Brexit Secretary of State Dominic Raab announced that negotiators could get a deal finalized on the terms of its departure from the EU by 21 November. The Pound surged higher on the positive news, however has since pared back most of these gains as Raabs department has since backtracked on his comments stating, “There is no set date for the EU negotiations to conclude”. November 21st was the date offered by the Chair of the Select Committee for (Raab) to give evidence”.