Become a client

Currency Market Analysis

Jun 23, 2017 | Currency Market Analysis

Global Themes

USD eases overnight as commodities, bond yields fall

The USD was lower again overnight as markets remained nervous across the globe.

Energy prices continued to drift lower as growing fears of an oil glut hit the price of crude.

In the US, bond yields continued to ease, with the USD pressured by this negative outlook.

Mostly stronger

Most other key markets were higher.

The euro was stronger as markets continued to look ahead to a potential end of stimulus from the European Central Bank.

The GBP saw small gains after Bank of England board member Kristen Forbes indicating that she also favours a rate hike sooner rather than later.

The Japanese yen was stronger as nervous markets favoured safe havens.

PMI numbers

Tonight’s focus will be on manufacturing PMI numbers across the globe.

The PMIs – which measure the plans and sentiment of purchasing managers – will provide updates on manufacturing activity in Japan, Europe and the US.

Canadian CPI numbers, which measures inflation, will be closely watched after strong recent gains for the Canadian currency.

Get the daily currency market analysis in your Inbox

Published five days a week, this newsletter provides day-to-day trends and activities affecting the market in easy-to-understand snapshots.