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Exchange Rates updated 25/03/2018 8:23:07 AM


EUR/USD 1.2345
EUR/GBP 0.8731
EUR/AUD 1.6046
EUR/NZD 1.7074
EUR/JPY 129.3991
EUR/CAD 1.5921
EUR/SGD 1.6242
EUR/CHF 1.1689
EUR/HKD 9.6933
EUR/THB 38.5145
EUR/ZAR 14.5007
EUR/DKK 7.4482
EUR/SEK 10.1689

Rates are indicative only and indicate a midpoint between buy and sell prices


All Ord 6043
DOW 24229
FTSE 6952
NZSE 8601


Gold 1327
Oil 64


Equity markets continued to unwind under the threat of global trade wars. The Trump administration has announced the imposition of tariffs of up to $60 Billion on Chinese trade. This is the opening salvo on negotiations designed to curtail Chinese theft of 'intellectual property' and address the massive trade imbalance. China has responded with retaliatory tariffs but they can only lose this war. They have an enormous trade surplus with the USA and 'free trade' has allowed this to flourish. Chinese markets have been protected by their own tariffs/trade restrictions, impeding trade partners, while taking advantage on free markets in the US. Command economies have worked well, as Asian Tigers have demonstrated, but challenges are here. Free Trade is transitioning to 'fair trade' and reciprocity!

The Dollar has suffered, with the EUR jumping to 1.2350, while the Yen has hit 104.50! This is a temporary reaction to 'trade wars' and the Feds activities should ensure the continued performance of a strong Dollar. The Central Banks that have been mired in the previous monetary cycle, should perform accordingly. The ECB, RBA, RBNZ and BoJ continue with QE, supporting vulnerable economies, thereby undermining their currencies.

Easter arrives this coming week so a shortened trading week should provide plenty of action.


26/3 NZ Trade Exports/Imports, France GDO, Chicago Fed National Activity Index, Dallas Fed National Activity

27/3 Australia Consumer Confidence, German Retail Sales, EU Consumer Confidence, Case Shiller Home Price Index, Richmond Fed Manufacturing Activity, US Consumer Confidence

28/3 US Weekly Mortgage Applications, US Trade Exports/Imports, US GDP, US Pending Home Sales

29/3 NZ Building Permits, Japan Trade Exports/Imports, German Employment, UK Current Account, UK GDP, German CPI, US Personal Income/Expenditure, Chicago Purchasing Manager, University of Michigan Sentiment, Japan CPI, Japan Industrial Production

30/3 Good Friday, Japan Home Sales, China Manufacturing/Non-Manufacturing/Composite PMI

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