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Currency Market Analysis

Jun 25, 2020 | Currency Market Analysis

Global Themes

Global shares fall, greenback higher, as US virus cases jumps
Global sharemarkets were sharply lower overnight, with the US’s Dow Jones index falling 2.7%, as a sharp spike in US COVID-19 cases sparked renewed fears of further economic impact.

US cases jumped to their third-highest level since the crisis began on Tuesday as an increase in numbers in Florida, Texas and Arizona caused markets to worry about more economic shutdowns.  

SGD hit

The Sinagpore dollar was caught up in the selling.  

The USDSGD gained 0.2% as it lifted from two-week lows.

The NZ dollar fell after the Reserve Bank of New Zealand signalled its willingness to buy overseas assets to weaken the NZD.

Quiet in Asia

The Asian trading session might be quieter than usual with China and HK both closed for the Dragon Boat Festival.

From central banks, the European Central Bank minutes are released at 9.30pm AEST.   

Tonight, another early read on the US economy is due, with durables goods orders for May due.

US weekly unemployment claims are also released.

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