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Currency Market Analysis

Oct 03, 2018 | Currency Market Analysis

Global Themes

Dollar steady

Dollar rallied during Asian time on the back of concerns about Italy’s politics.

Euro (EUR) touched the 6 weeks low at 1.1504 against USD. Indonesian Rupiah (IDR) recorded the highest level in more than 2 decades at 15,048 but was weighed during overnight market that we have seen some correction of the USD rally in overnight market as some investors bought back EUR, GBP, AUD on dip.

Stocks

US stocks are nearly flat and mixed. Dow closed up 0.46% at the record high while Nasdaq down by 0.47%.

Ahead of the Christmas two months later, Oct and Nov is crucial period for corporations to prepare for the market victory

Abe Japan’s PM keeps core Economic team

He keeps T. Aso (Deputy PM/Finance Minister), Y. Suga (Chief Cabinet Secretary), T. Kono (Foreign Minister), H. Seko (Trade Minister), K. Ishii (Transport Minister) as a key minister.

Nikkei index was well supported by the recent weak JPY, the US stock market, as well as the well-expected result of Abe’s victory from the last party presidential vote and rose to the highest this year above 24,400 during trading session.


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