Currency Market Analysis

Nov 12, 2019 | Currency Market Analysis

Global Themes

USDSGD hits two-week highs as markets fret on trade

The greenback was stronger as markets worried about a further delay to the US-China trade agreement after US President Donald Trump said a deal would only be done if it was “right for America”.

US equity markets were mostly lower in a quieter-than-usual session due to the Remembrance Day public holiday.

The USDSGD climbed from three-month lows.

CNY weaker

The renewed trade fears saw economically exposed currencies the Chinese yuan and Australian dollar fall.

Safe havens like the Japanese yen were stronger.

The British pound jumped after Brexit Party leader Nigel Farage said the party would not run in seats won by the Conservatives in 2017.

RBNZ due

Today, German business confidence is due at 6.00pm.

Tomorrow’s major release comes from the Reserve Bank of New Zealand with a 65% chance of a cut according to the latest data from Reuters.

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