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Currency Market Analysis

Mar 11, 2021 | Currency Market Analysis

Global Themes

US shares gains, greenback slips, on good news from stimulus, inflation

Global financial markets pressed higher across the board overnight as good news on US stimulus and inflation boosted sentiment.

The US’s Dow Jones index gained 1.5% as it ended at a new closing high after the House of Representatives passed President Joe Biden’s USD1.9 trillion stimulus package.

Otherwise, markets were also helped by a weaker than expected reading from US inflation.

USD lower

The USDSGD fell 0.1%.

Major FX markets were higher with the EURSGD up 0.2% and the JPYSGD up 0.1%.

ECB in focus

Tonight’s focus is on the European Central bank meeting at 9.45pm.

The market believes the ECB might look to alter its long-running money printing program in a move that could weigh on the euro.

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