Currency Market Analysis

Apr 24, 2019 | Currency Market Analysis

Global Themes

Greenback jumps as US shares reach new highs

The US dollar was stronger overnight as key US sharemarkets reached new all-time closing highs.

The US’s S&P 500 and Nasdaq indexes both ended at new all-time closing highs as better corporate earnings boosted the markets. The Dow Jones, pressured by Boeing’s recent losses, remained just under recent highs.

The better performance of US sharemarkets helped the greenback with the US dollar index climbing to 22-month highs.

Greenback strength

The greenback’s strength helped the USDSGD to gain 0.1%.

The British pound and euro were both lower.

CPI in focus

The AUD will be in focus with Australian inflation due at 9.30am.

A weaker inflation number will cause markets to look ahead to a potential rate cut from the Reserve Bank of Australia.

The market is looking for a low 0.2% for the March quarter and 1.5% for the year. The previous release saw 0.5% for the quarter and 1.8% for the year.

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