NZ PMI is close to contraction and internal indicators hint at recessionary pressures ahead for New Zealand. A business conditions index by Morgan Stanley sees its largest drop on record to its most pessimistic level since 2008.

NAB now call for 3 RBA cuts in 2019, RBC and Maquarie lower forecasts for RBA to cut to 0.5%. AU10 year hits fresh record low of 1.37%, AUD/JPY hones in on the July ’16 low.

- advertisement -

NZD and AUD are the weakest majors today on weaker domestic data, JPY and CHF are the strongest on a slight risk-off tone. NZD/JPY is today’s biggest mover, shedding -0.6% at the low and hittig its typical daily range.

UK agrees with US assesment that Iran is to blamce for shipping attacks in Gulf Of Oman. US military says it has ‘no interest in engaging in a new conflict of the middle east’, yet also stating they’re ‘ready to defend US interests…’. WTI finds stability above $52 after yesterday’s oil price spikes.

Previous articleGBP/USD And EUR/GBP: British Pound Facing Uphill Task
Next articleElliott Wave View: Apple (AAPL) Has Started Correction
DISCLAIMER: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.