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Currency Market Analysis

Jan 10, 2020 | Currency Market Analysis

Global Themes

Strong data boosts greenback ahead of US jobs tonight

The US dollar continued to strengthen overnight as more good news from the US labour markets boosted the greenback.

Last night’s better than expected reading from unemployment claims followed Wednesday’s strong reading from the private sector ADP employment report.

These numbers have now lifted expectations for tonight’s all-important non-farm payroll report.

The release, seen as one of the critical readings on the US economy, is now expected to see 162k new jobs with the unemployment rate expected to remain steady at 3.5%.

The US jobs report is due at 9.30pm.

Yen lower

The USDSGD was moderately stronger.

The Japanese yen fell as improved risk sentiment pressured the JPY.

The GBP fell as Bank of England governor Mark Carney warned that the UK might require lower interest.

Aussie gains

The Aussie was stronger this morning after better retail sales numbers.

Australian retail sales have recently disappointed but this was the best number in two years.

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