Daily Update - 8th March 2017
Yesterday’s Market Yesterday’s Focus: As expected RBA kept its’ Interest Rate unchanged at 1.5%, where they mentioned that “We continue to see rates on hold at 1.5% for an extended period, with the RBA’s outlook for gradually rising inflation potentially challenged by soft wage growth.” Mid-afternoon Eurozone released its Gross Domestic Products report, which reported expected figures. Sterling Pound was the worst performer of the day as UK Parliament and the House of Lords are bickering over some of the final details on Brexit Bill. It was a mix result from US, as Trade Balance reported expected figures while Consumer credit change figures were very much negative. Despite the mix results US Dollar still managed to edge above rival currencies to end the day as the winner. Today’s Market Today’s Focus Day will be full of major economic data coming from US. First up will be ADP Employment Change which is a measure of the change in the number of employed people in the US. This will be followed by Unit Labor Costs and Non-Farm Productivity. Unit Labor costs shows a total cost of employing a labor force while Non-farm productivity shows the output per Hour of labor worked. Day will end with 10 Year Note Auction where investors monitor the yield volatility and compare the average rate at auction to the rate at previous auctions of the same security as
