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Currency Market Analysis

Sep 11, 2017 | Currency Market Analysis

Global Themes

USDSGD jumps from one-year lows as oil tumbles

The USDSGD fell to one-year lows on Friday but a late selldown in commodities saw the USDSGD jump sharply higher.

Copper lead the reversal in the commodity space with the metal down 3.3% in its largest one-day loss since early May.

Oil, gold and iron ore also dropped sharply. The GSD market closely tied to oil prices.

Late-night reversal

The USDSGD ended Friday’s session up 0.2% after earlier falling almost 0.5%.

The SGD was weaker versus most other currencies.

The EURSGD was up 0.1% while the GBPSGD jumped 1.0%.

The Japanese yen climbed 0.7%.

Local retail, US inflation

This week’s major data due later in the week.

Tomorrow, local retail sales will be the major release.

From overseas, US CPI is due on Thursday night. The market is looking for yet another fall in US price pressures with the annual rate expected at 1.6% (from 1.7% previously).


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