Currency Market Analysis

Dec 13, 2018 | Currency Market Analysis

Global Themes

Greenback slips as sharemarkets bounce; ECB in focus

A rebound in global sharemarkets saw the US dollar (and other safe havens) fall overnight.

Global sharemarkets were helped by positive commentary on trade from US President Donald Trump while the US’s Dow Jones bounced from historical support at six-month lows.

US inflation

The British pound gained after UK PM Theresa May maintained the Conservative Party’s leadership in a critical no confidence vote.

The Aussie eased from earlier highs after US inflation numbers came in at 2.2% for the core reading in a sign that US inflation remains near ten-year highs.

The Japanese yen slipped in line with moves in other safe havens.

ECB

Tonight’s focus turns to the European Central Bank.

Growth and inflation have recently slowed in Europe.

The ECB remains resolute this slowdown will be a short-term phenomenon. However, any shift in sentiment from the ECB might weigh on the euro.


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