The dollar index is unchanged this morning and holding yesterday’s gains which came amid news of a confirmed meeting between Trump and North Korea. While the dollar gained, stock markets sold off once more as tech stocks lost favour.
The Aussie is making small gains after yesterday’s slump that saw it test the 2018 lows. The NZD/USD is following suit after moderate losses yesterday.
The GBP/USD and EUR/USD endured volatile sessions that ultimately ended lower, though some way off the lows. The balance is favour is with the pound this morning though as the EUR/GBP dips lower.
The USD/JPY has been quiet, but holding above the lows. Most yen pairs are tracking the dollar pairs though, with the AUD/JPY flirting with the lows and the likes of the GBP/JPY slightly higher following yesterday’s losses.
Gold is trading lower for the second day in a row as the dollar regains its confidence.
Coming up today, we have US final GDP at 13.30
Following this, we get US crude oil inventories at 15.30.
FOMC member Bostic speaks at 17.00.
While Australian cricket players come under pressure in the press, the real economy is looking on shaking grounds as well. The key driver for this appears to be the slowdown of Australia’s exports to China which clearly peaked in early 2017.