Risk appetite returned to markets, following the announcement from Trump, that he would not be using military means or tariffs over the acquisition of Greenland. A satisfactory framework of agreement had been reached over Greenland and there was no further need for escalation. Equities rallied strongly and the US Dollar settled, allowing the EUR to trade 1.1740, while the GBP approaches 1.3500. US Q3 GDP beat expectations, rising to an annualised 4.4%, while the important PCE inflation indicator softened. All great news for the US economy and global trade.The weaker reserve and stronger than expected Australian unemployment data, boosted the AUD, which surged above 0.6800, while the NZD has regained 0.5900. Important NZ inflation data will be released today, as the reading is extremely infrequent, increasing the impact.
