Currency Market Analysis

Jun 22, 2018 | Currency Market Analysis

Global Themes

Greenback hit as Dow suffers eighth-straight loss

The US dollar’s gains paused overnight as further losses in major financial markets as the US-China trade dispute continued to weight on sentiment.

The US’s Dow Jones index fell for the eighth-straight session with other markets also lower.

The US dollar fell.

GBP gains

The GBP jumped higher overnight after the key Bank of England meeting saw chief economist Andrew Haldane call for an immediate rate hike.

The euro gained as market digested this week’s commentary from the European Central Bank. The ECB plans to end its long-running stimulus program in December.

The AUD was also weaker.

PMI

Today’s major data comes from the purchasing managers index (PMI), a global gauge of manufacturing activity.

PMI numbers for Japan, Europe and the US will be closely watched today.


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