img AUS
img NZ
img CDN
Call us now: 1800 874 942
imgOnline Dealing Login

Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

AUD grinding higher

Published October 16, 2018

Author: Dennis Li

The USD dropped on weaker-than-expected US retail sales data for September coming in at 0.1% compared to expectations of 0.7%, we saw the AUD edge up 0.3% against the USD, 10yr treasury yields plateaued around 3.15%, UK and Italian yields also eased, letting the AUD firm against the GBP and EUR as Britain was unsuccessful to secure a Brexit deal on Monday ahead of the EU summit held later this week.

  • US retail sales in September struggled, a rebound in motor vehicle purchase was offset by the biggest drop in spending at restaurants and bars in nearly two years.
  • Major stock markets slipped on Monday, The S&P is holding following its biggest weekly retreat since March, Tech heavy Nasdaq also lower on threats of more tariffs and tensions between Saudi Arabia and the US continued to rise over the recent disappearance of a Saudi journalist from The Washington Post.
  • According to a statement from US Treasury Secretary Steven Mnuchin, the US federal government finished the 2018 fiscal year with a US$779 bln deficit as tax cuts hit revenues and the government paid more to service a growing national debt.
  • Italy’s cabinet approved the country’s expansionary 2019 budget bill and would send to the European Commission as planned before the midnight deadline on Monday, Prime Minister Giuseppe Conte said.
Previous Update Next Update

© Copyright - EncoreFX, 2018.

EncoreFX (Australia) Pty Ltd ABN 42 607 244 879 AFSL 479 870 is the issuer of the financial products in Australia. The information on this website has been prepared without taking into account your objectives, financial situation or needs and so before acquiring any financial services or products from EncoreFX, you should consider the appropriateness of the information having regard to your own objectives, financial situation or needs. You should obtain the product disclosure statement (PDS) for the relevant product and consider the PDS before making any decision to acquire the product. The information on this website is not directed at residents of any country other than Australia and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of, and comply with, any local law or regulation to which they are subject.