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Currency Market Analysis

Jul 29, 2019 | Currency Market Analysis

Global Themes

USD stronger ahead of Fed, US jobs

The US dollar was stronger in early Monday trading ahead of a massive week of data that includes Thursday’s meeting of the US Federal Reserve, and Friday’s US employment report.

On Friday, the US dollar gains after US June-quarter economic growth numbers came in better than expected, with an annual growth rate of 2.1%.

While better than forecasts, the number was a steep fall from the 3.1% seen in the March quarter.

Trade talks

In other markets, the British was weaker as worries about Brexit continued to weigh on the GBP.

The RMB remained broadly steady as hopes for improved relations at this week’s US-China trade talks boosted the Chinese yuan.

Historic week

In a big week for markets, the focus starts tomorrow with the Bank of Japan meeting.

With central banks around the world looking to loosen policy, the BoJ’s policy will be closely watched.

In Australia, the June-quarter inflation reading is due on Wednesday.

The highlight of the week comes on Thursday, with the US Fed seen as likely to cut interest rates for the first time in ten years.


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