Currency Market Analysis

May 19, 2017 | Currency Market Analysis

Global Themes

USDSGD rises from six-month lows; INR, ZAR tumble

The US dollar recovered some of its losses from Wednesday's heavy sell-off overnight.

The greenback was help by better data from US employment and manufacturing.

The USDSGD was up 0.2%.

INR tumbles

The Indian rupee was sharply lower yesterday. The INR fell to the lowest level in six weeks.

The INR’s fall was the largest drop in a year as the US sell-off caused losses in emerging market economies. A growing political scandal in Brazil also hurt emerging markets. The South African rand was also lower.

The euro was weaker as press reports speculated on disagreements about a potential wind-down of the European Central Bank’s stimulus program.

The euro fell from six-month highs.

CAD data

There’s not much on the economic agenda tonight with Canadian inflation the only major release.

The Canadian dollar was higher overnight. A strong inflation reading could lead to further losses.

Next week's focus is on minutes from the US Federal Reserve and the latest reading on first-quarter US GDP.


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