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Currency Market Analysis

Nov 09, 2018 | Currency Market Analysis

Global Themes

USD jumps from one-month lows as Fed holds course

The USDSGD jumped from one-month lows overnight after the US Federal Reserve signalled it plans to hold course and continue to raise US interest rates.

The USD has fallen this week as hopes of a resolution to the US-China trade dispute and the US midterm pressured the currency.

However, the USDSGD bounced from these lows in a sign the recent move lower might be running out of steam.

Bounce

The USDSGD climbed 0.3% as it lifte3d from one-month lows.

The EURSGD fell 0.3% while the GBPSGD fell 0.2%.

The JPYSGD fell 0.2%.

RBA report

In Australia, the focus today will be on the Reserve Bank of Australia’s Statement of Monetary Policy.

This quarterly report provides an updated view of the local economy with the RBA likely to upgrade Australian growth forecasts after a more positive statement last Tuesday.

Later, Chinese inflation and UK GDP will drive FX markets.


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