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Currency Market Analysis

Nov 20, 2019 | Currency Market Analysis

Global Themes

USD boosted as trade hopes drive markets

The USDSGD was higher overnight by improved sentiment around the US-China trade talks.

The improved sentiment was a reversal from the nerves seen earlier in the week.

Improved sentiment

The British pound remained strong after polls suggested the UK prime minister Boris Johnson remains in a position to win next months election.

The AUD was mostly weaker yesterday. The Reserve Bank of Australia minutes signalled the local central bank considered another rate cut this month but held back as it waited to see the impact of three earlier cuts.

The Canadian dollar weakened further as markets looked to a potential BoC rate cut.

Fed minutes

Tonight’s focus is on the US Federal Reserve minutes with markets looking for further guidance on the Fed’s next move.

The Fed’s recent commentary suggests the US central bank is currently on hold.

Tomorrow night, the European Central Bank minutes are due, while key global manufacturing numbers are released on Friday.

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