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Caution sets in

Published December 10, 2019

By Rhys Miles

 

Not surprisingly, caution has prevailed in overnight markets as we approach key data towards the end of the week. A slight risk averse tone prevailed after earlier Chinese trade data disappointed reporting a fourth straight month of decline in exports. That though is secondary as we approach the US Fed, ECB and British election this week.

US and European equities declined marginally with oil bouncing after OPEC promised to cut production in 2020. Any other commentary will be speculative given the potential outcomes of this week’s key events and trade talk results.

New Zealand data continues to impress with Q3 manufacturing data yesterday beating expectations with some commentators looking to upgrade their Q3 GDP data out on the 19th December.

The AUD remains range bound and has barely moved against any currency in the last 48 hours.

 

 

 

 

Adam Nikitins and Stewart McCallum were appointed Joint and Several Voluntary Administrators of EncoreFX (Australia) Pty Ltd on 30 March 2020.

Rees Logan, Adam Nikitins and Stewart McCallum were appointed Joint and Several Voluntary Administrators of EncoreFX (NZ) Limited on 30 March 2020.

Any queries regarding the Administrations should be directed to encorefx@au.ey.com.