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Currency Market Analysis

Feb 11, 2019 | Currency Market Analysis

Global Themes

USD ends higher after best week this year

The US dollar was higher again on Friday as the greenback capped off its best week of the year.

The greenback has been supported as the US economy remain solid in the face of weaker growth in Europe and China.

The USDSGD neared three-week highs.

Euro nears two-year lows

The euro was lower after a big fall in Italian industrial production followed last week’s poor German reading.

The AUD dropped to the lowest levels since last month’s flash crash on Friday after the Reserve Bank of Australia downgraded its forecast for GDP growth and inflation.

For the 2018-18 financial year, GDP growth was downgraded from 3.25% to 2.50% while the inflation forecast was downgraded from 2.00% to 1.25%

Delayed data due

The focus this week remains on the US with key data due to be release that was delayed by the government shutdown.

US inflation is due on Wednesday night while retail sales is released on Friday.

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