Currency Market Analysis

Sep 18, 2020 | Currency Market Analysis

Global Themes

USD lowest since January as shares fall

The USD was weighed down by selling across global equity markets with further losses in US shares overnight.

The USDSGD fell 0.2% to close at the lowest level since 24 January.

Yen stronger

The Japanese yen was stronger after yesterday’s Bank of Japan meeting.

The euro saw a strong rebound and it benefited from the US dollar’s weakness.

The Australian dollar was broadly flat overnight, unable to benefit from yesterday’s strong jobs result.

The Australian employment market shocked analysts with a huge 115k jobs returned to the economy despite weaker confidence readings and worries about the impact of the Victorian lockdown.

US focus

The focus tonight will likely remain on US equity markets.

Also tonight, US data will be watched, with the Conference Board leading index and consumer sentiment figures both due.

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