Currency Market Analysis

Nov 06, 2017 | Currency Market Analysis

Global Themes

US jobs see greenback regain strength

The USDSGD regained some strength on Friday after some stronger US data.

A stronger US dollar also impacted on pressed the market higher after a better result from the US employment market on Friday night.

While employment change was just below expectation – at 261k new jobs – the fall in the unemployment rate to 4.1% continued to paint a better picture for the US economy.

The USDSGD was up 0.4%.

Aussie hit

The Australian dollar was hit hard on Friday.

A poor result from Australian retail sales, with a flat result for September sales instead of the 0.4% gain expected, hit the Aussie in Friday’s early trade. This was the third straight month Australian retail sales missed expectations.

The AUDGSD neared five-month lows.

The euro was also weaker on Friday night. The EURSGD fell towards four-month lows.

RBA due

Today’s local data includes the foreign reserves data due at 7.00pm.

Local retail sales are due on Friday.

From overseas, central bank commentary will be key, with Bank of Japan Haruhiko Kuroda due to speak today and NY Fed president William Dudley to speak overnight.

Tomorrow, the Reserve Bank of Australia decision is due at 2.30pm.

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