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Currency Market Analysis

Apr 14, 2020 | Currency Market Analysis

Global Themes

USD climbs from one-month lows after Dow’s best week since 1938

The USDSGD climbed from one-month lows overnight as US sharemarkets slipped.

The Dow fell on Monday after last week’s massive gains.

The US’s benchmark Dow Jones index was up 12.7% last week and has now erased half of its initial 38% fall from February’s highs.

This week, however, the market focus shifts to corporate earnings, with the economic impact of COVID-19 to be closely

watched.

USDSGD higher

Overnight, the USDSGD was up 0.1% as it climbed from the lowest level since 16 March.

The EURSGD fell 0.1% to the lowest level since 5 March.

On the other hand, the JPYSGD gained 0.8%,

Chinese trade balance

This week’s main releases are the Chinese trade balance today and GDP on Friday.

Otherwise, US retail sales is due on Wednesday.

The Australian employment figures due on Thursday. The market is looking for 30k jobs to be lost with the unemployment rate to climb from 5.1% to 5.4%.


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