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Currency Market Analysis

Jul 12, 2018 | Currency Market Analysis

Global Themes

Stock markets broadly in the red on US-China trade tensions

Global equity indices ended the Wednesday session in the red. In particular, the Shanghai Index was down 1.75%.

The USDSGD is trading firmly above 1.36. This is tracking USDCNH closely with moves above the 6.75 resistance eyed in today’s trading session.

AUD loses ground overnight, Bank of Canada hikes rates

AUDSGD traded lower to near parity levels and will look for movements in equity and commodity markets for guidance in today’s trading session.

The bank of Canada raised interest rates from 1.25% to 1.5%

CNY Onshore Fix and US CPI in focus

Trade wars between US and China remains the theme for the week.

Daily CNY onshore fix at 9.15 AM remains largely watched alongside the US/China trade wars.

The main data release today is the US CPI at 8.30 PM

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