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Currency Market Analysis

Jan 18, 2019 | Currency Market Analysis

Global Themes

Greenback eases on tariff end hopes

The USDSGD slipped lower in the final few hours of overnight trade as a Wall Street Journal article reported the US government was considering ending its tariffs on Chinese imports.

The US Treasury Secretary Stephen Mnuchin later dismissed the reports but the USDSGD remained broadly near the recent lows after earlier climbing to one-week highs.

Mixed in Europe

The euro fell to the lowest level in 18 months as markets continued to react to this week’s poor result from German economic growth figures.

German GDP fell to the lowest level in five years.

The British pound was higher as hopes the UK would avoid a “no deal” Brexit caused the GBP to gain.

The Japanese yen weakened after a poor number from this morning’s inflation reading.

Momentum in focus

Tonight, the focus remains on the US with key industrial production numbers will provide detail on whether the global manufacturing slowdown is impact in the US.

Next week, Chinese growth and industrial production numbers will be closely watched on Monday.

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