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Currency Market Analysis

Jan 09, 2019 | Currency Market Analysis

Global Themes

Greenback gains as US data shows wage growth gaining

Sharemarkets across the world climbed overnight with the greenback gaining after another strong number for the US jobs market boosted the US dollar.

While the JOLTS data (job openings and labour turnover) fell over the month, the number of available positions remains well above the amount of potentially applicants. This is seen as potentially adding to wage pressure.

Last week’s strong non-farm payrolls was notable for its large jump in annual wage pressure to 3.2%. Last night’s data confirms that inflation pressures remain in the US economy.

Mixed

The USDSGD climbed 0.1% as it lifted from six-month highs.

The euro fell after German industrial output fell for the third-straight month. The EURSGD fell 0.3%.

The Japanese yen saw its first small gains after a series of losses since last week’s “flash caras” saw it fall from two-year highs.

Trump talk

Today’s focus is on US President Donald’s Trump national address on the US government shutdown and border security.

The US government shutdown has been in place since 22 December as Republicans and Democrats argue over funding for President Trump’s so-called border wall.

President Trump is due to speak at 10.00am.


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