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Currency Market Analysis

Mar 05, 2018 | Currency Market Analysis

Global Themes

USDSGD sinks as trade war worries grow

The US dollar fell further on Friday – along with further losses in the US’s Dow Jones index – as worries about the long-term impact of President Trump’s trade policies grew.

Last week’s introduction of tariffs on steel and aluminium imports into the US sparked fears of a wider trade war.

The USD slipped with the USDSGD down 0.3%.

Election boosts euro

The euro jumped in early trade on Monday as anti-EU parties failed to gain a majority in the Italian elections.

The Japanese has continued to climb with the JPYSGD at nine-month highs.

The Aussie was weaker last week’s disappointing capital expenditure number hit expectations for Wednesday’s GDP numbers. The AUDSGD fell to three-month lows.

Big week

This week’s focus is on Australian December-quarter GDP numbers, due Wednesday.

Thursday sees the European Central Bank meeting while Friday bring the all-important US monthly jobs report.

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