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Currency Market Analysis

Aug 16, 2019 | Currency Market Analysis

Global Themes

Greenback dips after better data helps sentiment

The US dollar eased lower yester after improved sentiment saw safe haven currencies like the USD and Japanese yen ease.

Overnight, US markets were helped a series of better economic results.

Retail sales, two manufacturing gauges from Philadelphia and New York, and wages data all beat expectations.

The news helped US shares, as measured by the Dow Jones index, gain 0.4%.

Aussie inches higher

The Australian dollar was mostly higher yesterday after a better local employment report.

Australia’s July employment found 41k new jobs were created last month with the unemployment rate steady at 5.2%.

The euro was lower as this week’s poor German growth number pressured the currency.

Jackson Hole

Next week, the focus shifts to the annual Jackson Hole symposium of central banks held by the Kansas City Federal Reserve.

Most importantly, markets will be looking to guidance from the Fed chair Jerome Powell.

Any signs of further rate cuts might help recently gloomy markets see a turn in sentiment.


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