Currency Market Analysis
Sep 26, 2019 | Currency Market Analysis
USD index reaches new highs despite impeachment move
The US dollar continued to climb overnight, with the USD index nearing the best level since May 2017, with the greenback seemingly unfazed by impeachment inquiry proceedings.
In fact, some commentators note that the US dollar might climb as a result of the impeachment inquiry as markets look to “safe haven” investments.
The US, with the world’s largest and most liquid bond market, is often seen as a safe haven even during times of US political stress.
The USDSGD climbed back to three-week highs.
The British pound fell after the UK parliament returned and markets become even more uncertain about the likely path of Brexit.
The Australian dollar fell ahead of next week’s likely Reserve Bank of Australia interest rate cut
Tonight’s is on the US with the final reading of second-quarter GDP expected.
The market is looking for an annual economic growth rate at 2.0%.
Tomorrow, key US inflation numbers, the personal consumption and expenditure release, can also have a big impact on the US dollar.
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