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Currency Market Analysis

Mar 13, 2018 | Currency Market Analysis

Global Themes

USD slips lower on tariffs, deficit

The USD was weaker overnight as the greenback faced further pressure with global markets still worried about the impact of President Trump’s tariff plan.

The US dollar was also hit by the US’s growing budget deficit, with the US$215 billion monthly deficit, reported overnight, up 12% from this time last year.

Euro low

The euro continued to slip after last week’s European Central Bank meeting signalled the central bank remains cautious on the global economic outlook.

The tariff woes continue to impact across markets with the Canadian dollar one of the biggest losers.


A busy day ahead could see some significant movement across the FX markets.

Reserve Bank of Australia assistant governor Michele Bullock speaks today to the Australian Payments Conference.

Australian business confidence is due at 8.30am, while Reserve Bank of New Zealand governor Grant Spencer speaks at 10.45am.

Tonight, US inflation, due at 8.30pm, will be critical ahead of next week’s US Federal Reserve decision.

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