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Currency Market Analysis

Jul 13, 2018 | Currency Market Analysis

Global Themes

Lull in war of words prompts risk on mode

US-China Trade war takes a breather

Both the US and China announced overnight that they are open to talks amid the escalating trade war. The announcement was well received, prompting risk back on.

Global equities ended the cash session in positive territory, with the Shanghai Main Index up 2% and Dow Jones up 0.9%

JPY weakens

JPYSGD weakened to near the 1.21 handle and held on to the traditional inverse correlation with the stock markets.

Comments from China in focus

With most of the data already released this week, investors will be watching trade rhetoric from China over the weekend with announcements of any retaliatory action expected to weigh on currencies and commodities closely associated with global trade such as the Singapore and Australia Dollar.

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