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Currency Market Analysis

Jun 12, 2019 | Currency Market Analysis

Global Themes

USD index fell slightly

USD index fell slightly and USDSGD fell to from around 1.3650 to 1.3630 marginally while U.S and China trade talks are spotlighted. USD started to be undermined on the back of expectation of US rate cuts this year and U.S – China trade talks in the end of Jun at G20 summit.

US Producer Price Index (PPI) showed a second straight month rise last night and Consumer Price Index (CPI) tonight and Retail Price on Friday will be focused as that will impact the sentiment of Rate decision by FOMC members.

CNH remains supported

CNH seems to be well supported against USD. CNH had been weakened on the back of trade talks with US. While market players speculates USDCNH 6.95 – 7.00 is crucial resistance level, it has been declined to 6.91 level. We have to be careful about the development of the talks between two biggest countries as Trump maintain the stubborn tariff strategy whilst China says it is not afraid of the trade war.

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