Daily Morning Report 12.09.2017

The Australian dollar was steady against its U.S. counterpart on Tuesday, after the release of downbeat Australian data, while the New Zealand dollar edged higher as market sentiment continued to recover from concerns caused by Hurricane Irma and North Korea.

AUDUSD slipped 0.14% to 0.8016.

Earlier Tuesday, the National Australia Bank said its business confidence index fell to 5 in August from a reading of 12 the previous month.

NZDUSD rose 0.21% to trade at 0.7267.

Meanwhile, sentiment continued to improve as Hurricane Irma caused less damage than expected in Florida and as North Korea did not fire missiles over the weekend.

Market participants had braced for additional provocations from North Korea on September 9, as the State celebrated its founding day. But Pyongyang marked the anniversary without further missile or nuclear tests.

In response to North Korea’s sixth nuclear test, the U.N. Security Council voted unanimously on Monday to step up sanctions on the peninsula. Its textile exports are now banned and fuel supplies to Pyonyang are capped.

It was the ninth sanctions resolution unanimously adopted by the Security Council since 2006 over North Korea’s ballistic missile and nuclear programs.