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Currency Market Analysis

Jul 27, 2021 | Currency Market Analysis

Global Themes

USDCNH falls from three-month highs as markets look to Fed

The USDCNH was lower yesterday with some caution around the US dollar ahead of this week’s Federal Reserve decision driving markets.

The US dollar index eased from three-month highs as markets eased back on expectations the US central bank would begin discussions about withdrawing stimulus – a so-called taper – at Wednesday night's meeting.

GBP recovers

The British pound was stronger as a drop in Covid-19 new cases booted confidence in the UK economy.

The GBPHKD hit ten-day highs.

The NZD extended gains despite some disappointment from the June trade figures.

The June trade balance was reported at NZD261m versus expectations for NZD297m.

US durable goods, confidence due

The US economy remains in focus with durable goods orders due at 8.30pm.

US consumer confidence number are released at 10.00pm.

Tomorrow, Australian inflation numbers are key.

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