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Currency Market Analysis

Nov 15, 2019 | Currency Market Analysis

Global Themes

USDSGD slips as trade war fears growth

Financial markets were more unsettled overnight as fears grow that the US and China might be unable to resolve their trade differences.

In China, a sharp drop in industrial production, which neared a 17-year low at 4.7%, also hit markets.

The USDSGD slipped lower with the pair down 0.1%.

Aussie hit

In Australia, a big drop in employment, with 19k jobs lost from the Australian economy, hit the AUD and caused markets to re-evaluate the chance of another rate cut from the Reserve Bank of Australia.

The AUDSGD fell 0.8%.

US retail

Tonight’s focus is on US data with the October retail sales due at 9.30pm.

After a good performance mid-year, US retail sales have recently weakened.

Next week, the focus shifts to Europe with European Central Bank minutes due on Thursday.

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