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Currency Market Analysis

Jun 06, 2017 | Currency Market Analysis

Global Themes

New lows for greenback, but euro and pound in focus

The USDSGD fell to new lows overnight as markets continued to react to last week’s job reading.

The US created 138k new jobs in May, below the 180k expected.

Overnight, weaker US data, including the services activity index (PMI) continued to point to a slowing in the US economy.

Europe in focus

The focus over the next week remains on European currencies.

The euro fell 0.2% ahead of next Thursday’s European Central Bank meeting.

The pound was higher as markets look ahead to UK general election on Thursday night.

The GBP climbed 0.5% but volatility is expected last in the week.

RBA day

From overseas, today’s focus in on the Reserve Bank of Australia meeting.

Market analysts don't expect any change in local interest rates with the improving jobs markets helping ease concerns about growing debt levels.

Overnight, the major release is from the US, with the JOLTS job opening reading to provide more detail after last week's mixed reading.

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