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Currency Market Analysis

Dec 22, 2017 | Currency Market Analysis

Global Themes

Greenback finishes at lowest level since September after US GDP miss

The USDSGD fell to four-month lows overnight after US third-quarter economic growth figured missed expectations.

The USDSGD fell 0.1% as it closed at the lowest level since 8 September.

US GDP, at 3.2% in annual terms, only just missed expectations at 3.3%. US shares gained.

Euro drops on independence vote

The euro dropped in early trade after Spanish elections saw a strong vote for pro-independence parties in Catalonia.

The AUDSGD jumped higher after a strong move higher in metals like copper overnight.

The Japanese yen and British pound were broadly steady.

Orders

You might be on holidays over the Christmas – New Year break, but you can still take advantage of potential gains during the holiday break by placing market orders to achieve a more attractive rate.

Speak to your Western Union Business Solutions representative for more information.

The main driver of markets tonight will be the key US personal consumption and expenditure figures due at 9.30pm.

These figures, which measure US inflation, will be closely watched.


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