The euro slumped on Thursday following the European Central Bank’s (ECB) latest interest rate decision.
The ‘Aussie’ dollar initially suffered when President Trump announced that the summit between himself and North Korean leader Kim Jong-un would no longer take place – with risk appetite amongst investors dampened by the possibility of worsening relations and a potential conflict.
This was eventually reversed, however, with North Korea still expressing willingness to have the summit, even to the extent of sending a high-profile official to New York to iron out further details.
This news seemed to dominate headlines for the Australian dollar last week, with a rather quiet domestic data calendar leaving the focus on global risk sentiment and the performance of the US dollar.
This week’s calendar is a similarly sparse one for Australian data, although the upcoming US data releases may spark AUD movement.
Joining the corporate trading desk in 2007, Phil now over sees all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure
Phil has FCA approval and has completed the Certificate in International Treasury Management (CertiTM)