Currency Market Analysis

Apr 17, 2018 | Currency Market Analysis

Global Themes

USDSGD back at lows as US sharemarket rebound

The US dollar was mostly weaker overnight as an improvement in global risk appetite saw US sharemarkets strongly higher.

The USDSGD fell 0.3% to near three-month lows.

Growing geopolitical tensions also pressured the greenback.

Overnight, US President Donald Trump accused both China and Russia of “playing the currency devaluation game”.

Euro, pound gains

The British pound gained, moving to the highest level since the UK’s Brexit vote in June 2016.

The euro was stronger as markets look ahead to next week’s meeting of the European Central Bank

The Australian dollar was weaker. A fall in crude oil and iron ore prices hit the currency with commodity prices remaining pressured by the growing trade tensions between the US and China.

RBA minutes

The major release today is Chinese GDP is due.

Also, the Reserve Bank of Australia release the minutes from their 3 April meeting due.


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