Currency Market Analysis

Apr 16, 2018 | Currency Market Analysis

Global Themes

USD jumps from low as Syria strikes spook market

The USDSGD jumped from near three-month lows on Friday as the planned US, UK and French airstrikes on Syria spooked markets late in the session.

The airstrikes, carried out on Saturday, were in retaliation for reported chemical attacks.

The news saw risk appetite turn sharply with global sharemarkets weaker on Friday.

The SGD was pressured by this negative sentiment.

Safe havens

The USDSGD climbed 0.3% from Friday’s lows to finish Friday’s session broadly flat.

The other key safe havens – such as the Japanese yen and Swiss franc – were also higher.

The euro was unchanged while the British pound moved to two-year highs.

China in focus

This week’s big release comes from China with first-quarter economic growth numbers due tomorrow.

From the US, retail sales, due at 8.30pm tonight (AEST), will be key.


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