Currency Market Analysis

Mar 30, 2020 | Currency Market Analysis

Global Themes

USDSGD climbs from two-week lows as nerves drive early trade

The USDSGD climbed from two-week lows this morning as a more nervous start to trade pressured the local currency.

Markets turned more cautious this morning following a late sell-off in US equities markets.

The Dow fell 4.1% on Friday but ended 14.2% higher in the best one-week performances since 1938.

USD weaker last week

On Friday, the USDSGD was weaker in line with other USD markets.

The USD index fell 3.9% last week in its biggest one-week loss since the global financial crisis.

The euro and Japanese yen both gained.

With the global focus on the developing coronavirus outbreak, most economic data has been overlooked.

However, more up-to-date data, like consumer confidence and employment, remains key.

This week, US consumer confidence, on Tuesday, and non-farm employment, due on Friday, will be the major release.

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