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Currency Market Analysis

Jan 17, 2020 | Currency Market Analysis

Global Themes

RMB at new six-month highs as US data stays strong

The USD was higher after a series of better-than-expected economic releases from the US.

US core retail sales in December was announced at 0.7% versus 0.5% expected, while unemployment claims, business inventories and Philly Fed all beat expectations.

The positive news pushed all three US share indexes to all-time highs.

The US dollar also gained.

The USDSGD climbed from levels near 18-month lows.

JPY weaker

The USD strength saw the USDJPY jump.

The Japanese yen weakened further.

The Chinese yuan also continued to gain.

Chinese data

Today’s focus turns to the Chinese economy with December-quarter economic growth figures due at 10.00am.

The market expects 6.0% for 2019 annual growth.

China also release industrial production, fixed asset investment and retail sales.

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