Currency Update: Concern about global economic growth, particularly in China weighed on the AUD

Bell Potter

Stockbroker

Currency Update: Concern about global economic growth, particularly in China weighed on the AUD. US equities were down, but importantly copper was sharply lower. Oil too was down and the safe haven, gold, was higher. The USD was flat, with JPY stronger. In Australia yesterday, the NAB business survey was disappointing, with business confidence and conditions lower. It also showed a lower employment outlook which is the main issue of concern for the Australian economy. Today, the market will keenly look to the Westpac consumer confidence reading and January housing finance commitments. The US Commerce Department announced a 1.9% fall in wholesale results for January, the biggest drop in four years. In the United Kingdom, Bank of England Governor Mark Carney testified he expects the policy rate to rise but only gradually and that it will settle around 2-3%.


Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.