Currency Market Analysis

Mar 31, 2020 | Currency Market Analysis

Global Themes

Greenback eases as US shares rebound

The USDSGD was lower overnight as US shares climbed.

US shares recovered from Friday’s sell-off to gain 3.2% overnight.

Global sharemarkets were mostly higher despite sharp falls in the oil that saw crude prices drop to the lowest level in 18 years.

The euro was weaker as worries about the impact of coronavirus impacted on the currency.

The Japanese yen climbed to two-week highs versus the US dollar.

The RMB was weaker as it returned to levels near six-month lows against the US dollar.

The AUD was helped by news around the Australian government’s latest stimulus plan that will provided a AUD130b wage subsidy to employers.

US confidence due

The focus tonight remains on the impact of the coronavirus on the US economy.

US consumer confidence is due at 10.00pm.

During today’s trading session, markets will be looking to Chinese manufacturing data due at 9.00am.

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