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Currency Market Analysis

Jun 29, 2020 | Currency Market Analysis

Global Themes

Greenback stronger as China, US data loom

The USDSGD was slightly higher this morning after another big sell-off in US markets left the local currency vulnerable to selling.

The US’s Dow Jones index fell 2.8% on Friday as the growing numbers of new coronavirus cases in the US spooked markets.

Safe havens

The USDSGD was up 0.2% on Friday.

The weaker sentiment saw the other safe haven currencies gain.

The JPYSGD was also up 0.2% but remains near two-week lows.

The euro was also higher with the EURSGD up 0.1% but still near one-month lows.

China, US deal

The focus this week will be on the latest data form major economies.

From China, key activity measures – the purchasing manager indexes – are due on Tuesday.

In the US, the monthly non-farm employment report will be seen as critical after last month’s reading beat expectations.

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