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Currency Market Analysis

Mar 06, 2019 | Currency Market Analysis

Global Themes

US dollar at three-week highs on strong data

The US dollar was stronger overnight after a trifecta of better data boosted the greenback.

Manufacturing activity, new home sales and business confidence all improved.

The USDSGD climbed 0.1%.

AUD hit

The euro was lower as the better US data pressured the currency.

The Japanese yen climbed from levels near 18-month lows.

The AUDSGD drifted lower yesterday after a poor reading from December-quarter exports hit expectations for today’s GDP numbers.

Australian GDP

All eyes are on the Australian GDP numbers due at 11.30am AEDT.

The market is looking for a quarterly growth rate of 0.3% and an annual rate of 2.5%.

In annual terms, the result is a large fall from the 3.4% seen just six months ago.

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