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Currency Market Analysis

Aug 30, 2019 | Currency Market Analysis

Global Themes

USD, safe havens, slip as trade hopes boost shares

Share markets were lifted, and safe havens fell, as a more positive tone on trade with the Chinese administration saying they were preparing for another round of talks in September.

The news boosted global equity markets world.

As sharemarkets gained, safe havens like the Swiss franc, Japanese yen and US dollar all fell.

Brexit worries

The British pound continued to weaken as markets grew increasingly concerned about a “no deal” Brexit.

The AUD ended the overnight session at new ten-year closing lows. The Aussie was pressured yesterday after June-quarter capital expenditure numbers fell by 0.5%.

GDP in line

Last night’s gains were helped by US GDP which came in at forecasts with a 2.0% annual rate.

Tonight’s focus remains on the US with the personal consumption and expenditure indicator, an important measure of inflation, due at 8.30pm.

Tomorrow, official Chinese manufacturing and services activity gauges are released.


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