Currency Market Analysis

Sep 06, 2019 | Currency Market Analysis

Global Themes

USDSGD falls to one-month lows as global sentiment turns

The USDSGD slipped lower yesterday – climbing to four-week lows – as a combination of factors boosted global sentiment.

The SGD was helped by news that the US and China would resume their trade talks in October while better US data helped global sharemarkets climb.

US bond yields also jumped revering a long-running theme of falling market interest rates.

The USDSGD fell 0.2% in its fourth day of losses.

Yen weakens

A more positive global environment saw the Japanese yen weaken.

The JPYSGD fell to one-month lows.

The AUDSGD gained 0.3% in its third-straight day of gains.

The British pound extended its recent gains as Boris Johnson’s political troubles made a “no deal” Brexit seemingly less likely.

US jobs

The monthly US employment report will be the major release tonight.

Later night’s ADP jobs report beat expectations while services PMI and factory orders also exceeded forecasts.

The market is looking for 160k new jobs with the unemployment rate expected at 3.7%

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