Currency Market Analysis

Sep 15, 2020 | Currency Market Analysis

Global Themes

USD tumbles as US shares start week strongly

The US dollar fell heavily overnight after a rebound in US sharemarkets boosted sonometer and saw the Dow Jones up 1.2%.

US shares have recently weakened with the tech-focused Nasdaq falling more than 10% over the last ten days.

The USDSGD fell 0.3%

AUD in focus

The AUD was higher overnight, but markets remain cautious ahead of today’s key release from the Reserve Bank of Australia.

The RBA recently said it has further policy tools available – a shift from its previously articulated stance. The RBA introduced the comment that it would “consider how further monetary measures could support the recovery”.

The British pound jumped after the UK parliament passed the first stage of the government’s new Brexit deal.

Chinese data key

Today’s other main focus – apart from the RBA – is Chinese monthly economic data.

Industrial production, retail sales and fixed asset investment are all due at 10.00am.

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