Currency Market Analysis

Apr 01, 2020 | Currency Market Analysis

Global Themes

USD weaker; US shares turn lower

The USD dollar was mostly weaker overnight as the selling returned to Wall Street.

US shares were mostly weaker as the positive impact of last week’s US stimulus program eased.

The benchmark Dow Jones fell 1.8%.

The USDSGD fell 0.1% to remain near two-week lows.

The euro was moderately lower while the Japanese yen was moderately higher.

US jobs preview

The market will be looking to today’s Reserve Bank of Australia minutes.

These minutes are from the RBA’s ad hoc meeting on 19 March when the central bank announced it would cut rates to 0.25% and launched its new quantitative easing program.

Overnight, US consumer confidence beat expectations, at 120 points, although this was a sharp fall from the 132 previously.

Tonight, we see further guidance from the US jobs markets, with the ADP employment report due tonight.

Tomorrow, the all-important US non-farm employment report is due.

Get the daily currency market analysis in your Inbox

Published five days a week, this newsletter provides day-to-day trends and activities affecting the market in easy-to-understand snapshots.