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Currency Market Analysis

Jan 13, 2020 | Currency Market Analysis

Global Themes

USD fall on weaker US jobs

In the US, the December jobs reading disappointed. The reading found 145k new jobs, well below the 165k forecast.

After last week’s other employment numbers beat expectations, the news saw a strong reaction.

The greenback fell on the news.

RMB jumps

The Chinese yuan gained as the US dollar weakened.

The RMB hit the best levels since August.

The AUD was also higher after November local retail sales were well above expectations, with the reading up 0.9% in the best result in two years.

Chinese GDP

This week sees a number of key global releases with Friday’s full-year growth numbers from Chinese likely to be the highlight.

Otherwise, US inflation on Tuesday night and retail sales on Friday night will also be closely watched.

More broadly, the US-China "phase one" trade deal is due to be signed this week.

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